Friday, September 28, 2018, 8:28 AM
Union Bank of India has taken fugitive billionaire jeweller Nirav Modi to a court in Hong Kong after two of his companies defaulted on more than USD 5.49 million in credit facilities, according to a media report. The bank claimed in a writ filed at the High Court on Wednesday that the Mumbai-born businessman.
Tuesday, September 18, 2018, 12:00 PM
CBI filed a case in the hacking of Union-Bank-of-India's system and the diversion of Rs 1,200-crore from its nostro-account to the accounts of unknown persons located in various countries in July-2016. The money was traced to banks in Hong-Kong, Cambodia, Thailand, Taiwan and Australia from the nostro account of the bank. Maharashtra-Police was probing the matter, but it was unable to find the perpetrators.
Friday, July 6, 2018, 10:29 PM
Public-sector United Bank of India today said it will raise up to Rs 1,500 crore by issuing equity shares in one or more tranches. The bank's shareholders, at its annual general meeting today, approved the proposal to create, offer and allot equity shares not exceeding Rs 1,500 crore in one or more tranches.
Monday, June 11, 2018, 8:11 AM
Six more state-run banks are at risk of entering the Reserve Bank of Indias prompt corrective action (PCA) framework, officials said. These include Punjab National Bank, Union Bank of India and Syndicate Bank, they said, adding that this may reduce the chances of the finance ministrys plans to sell the good loans of weak banks to stronger lenders coming to fruition.
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