Coming out of its self-imposed shell, Union Bank of India, the fifth largest public sector bank in the country, is moving forward to opening branches overseas. The bank has over 2,000 branches across India, but no branch overseas.
Chief Economic Advisor V Anantha Nageswaran highlights the challenges of digital access, data governance, interoperability, and cyber security in India's digital public infrastructure (DPI), despite its world-class scale.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
The Indian government has announced the replacement of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin), or VB-G RAM G Act, 2025, effective July 1. The new scheme aims to expand guaranteed wage employment and link it more closely with infrastructure development and climate resilience, but faces concerns from opposition parties and labour rights activists.
Union Home Minister Amit Shah has accused the TMC government of turning Kolkata into a 'city of slums' and using infiltrators as a vote bank, sparking a strong reaction from the TMC, which accused him of insulting the people of Bengal.
The government on Friday received financial bids for the strategic disinvestment of IDBI Bank, the Department of Investment and Public Asset Management (Dipam) said in an official statement on X.
Union Bank of India on Thursday slashed its benchmark prime lending rate (BPLR) by 0.50 per cent to 12 per cent per annum, a day after RBI cut key rate by similar percentage points.
Union Bank of India has revised the interest rates upwards by 25-50 basis points on domestic deposits for different maturity periods with effect from December 1, 2004.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
Banking sector has witnessed healthy growth in advances in the third quarter of financial year 2026 (Q3FY26) against the same period last year, as the full impact of goods and service tax (GST) rate cuts drove growth. Most of the lenders saw their credit growth outpace the deposit growth in the quarter.
The Education Ministry will focus on training teachers in the use of Artificial Intelligence tools over the next three to four months to support classroom teaching, lesson planning and student assessment, a senior official said.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Union Home Minister Amit Shah asserts the BJP will form a government in West Bengal and address the issue of infiltration, accusing Mamata Banerjee of allowing it for vote-bank politics.
Teaser loans may be on their way out with Canara Bank and Union Bank of India opting to withdraw the scheme in anticipation of a high interest rates.
Union Bank of India , a mid-sized state-owned lender, has plans to expand into investment banking to tap a growing global market in which increasingly aggressive Indian companies are acquiring foreign rivals.
'I cannot imagine that any NSA before Ajit Doval would have given us this kind of time and this kind of engagement. They would have offered slogans, or nothing at all. That, too, tells you something.'
Jammu and Kashmir Lieutenant Governor Manoj Sinha has accused Pakistan of targeting the region's youth by flooding the streets with drugs, vowing to combat the menace and protect the younger generation.
Maharashtra minister Pratap Sarnaik announced a special verification drive from May 1 to August 15 to enforce the decision making Marathi mandatory for auto-rickshaw and taxi drivers in the state, during which no punitive action will be taken.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
Uncertainties stemming from the West Asia crisis and its potential impact on inflation and economic growth were key factors in the Reserve Bank of India's Monetary Policy Committee (MPC) decision to maintain the status quo on interest rates, according to the recently released MPC meeting minutes.
Bharat Electronics, Reliance Industries, Mahindra & Mahindra, Larsen & Toubro, InterGlobe Aviation, ICICI Bank and UltraTech Cement were among the other major gainers. Axis Bank, Infosys, Tata Consultancy Services, Trent and Titan were the laggards.
Union Home Minister Amit Shah has accused the TMC government in West Bengal of jeopardising national security through appeasement politics and failing to secure the border, framing the upcoming election as crucial for the entire country.
The Supreme Court has sought responses from the Centre, the CBI and others on a plea filed by a 78-year-old retired banker who was duped of Rs 23 crore after allegedly being put under "digital arrest" for nearly a month.
Over the past three years, the appointments of 20 candidates selected through the Institute of Banking Personnel Selection were cancelled or offers were withdrawn due to poor credit history.
Union Home Minister Amit Shah pledged the BJP will recover funds allegedly stolen by the TMC in Bengal and promised development schemes for North Bengal, while attacking Mamata Banerjee's governance.
A government mandate requiring central public sector enterprises to use the Trade Receivables Discounting System (TReDS) for settling small business invoices is expected to significantly increase volumes on these platforms.
'Whether you will bring this down and cause hurt to senior citizens, who are probably living on that little interest rate that they earn out of it... But equally, if I just look at the kitty of the National Small Savings Fund, it is from that same kitty that I'm borrowing.'
TMC leader Abhishek Banerjee criticised the BJP for not fulfilling its promises, highlighting the continuation of West Bengal's welfare schemes and challenging the BJP to match them in their ruled states.
Union Bank of India said HDFC Mutual Fund tied up with the bank to distribute its mutual fund schemes across India.
Finance Minister Nirmala Sitharaman on Tuesday allayed apprehension that privatisation of state-owned banks would hurt financial inclusion and national interest. She said the bank nationalisation done in 1969 has not yielded the desired result as far as financial inclusion was concerned.
The Reserve Bank of India (RBI) has projected a 6.9 per cent GDP growth for the current financial year, citing concerns over commodity prices and supply chain disruptions stemming from the West Asia crisis.
'If the Opposition associates itself too much with the minorities, then it becomes easy for the BJP to get Hindu consolidation votes.'
Union Home Minister Amit Shah has promised to expel infiltrators from West Bengal and secure the border if the BJP wins the upcoming assembly elections. He accused Chief Minister Mamata Banerjee of neglecting North Bengal and favouring Muslims in budget allocations.
The Union Bank has increased interest rates on deposits and floating rates on home loans by 0.25 per cent.
Border trade between India and China through the Lipulekh Pass in Uttarakhand's Pithoragarh district is set to resume this year after a six-year hiatus due to the COVID-19 pandemic.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
Batting for further consolidation in public sector banking, the executives of top public sector banks (PSBs) said there should be at least two Indian banking entities among the top 20 global banks.
West Bengal Chief Minister Mamata Banerjee has accused the BJP-led central government of using the proposed amendment to the women's quota law as a front for the Delimitation Bill, which she claims will divide the country. She asserted that her party will fight this move at every step.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
