| Public sector banks roll out the red carpet for MBAs | 16-NOV-09 |
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| When he took over as the chairman of Union Bank, M V Nair was one of the youngest entrants to the corner office of a public sector bank. So it’s natural that Nair didn’t think twice before rewriting the rules of the recruitment game for his bank. |
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| Union Bank faces probe in Koda case | 14-NOV-09 |
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| Authorities investigating a disproportionate assets case against former Jharkhand chief minister Madhu Koda will start questioning top officials of the Union Bank of India tomorrow regarding funds deposited in the bank’s Zaveri Bazaar branch here. |
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| PSU banks expect pick up in credit offtake post-Sept | 01-SEP-09 |
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| Loan disbursements, which dipped due to economic slowdown, during the nine months ending May 2009, is expected to pick up post-September with an improvement in industrial activities, a top banking industry official said. |
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| Bank staff to go on 2-day strike from August 6 | 16-JUL-09 |
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| Public sector bank employees have called for a two-day strike on August 6 and 7. The decision was taken in the backdrop of failed talks between the United Forum of Bank Unions (UFBU) and Indian Banks’ Association (IBA) on wage revision. |
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| Union Bank to cut lending rates by July | 19-JUN-09 |
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| State-owned Union Bank of India will cut lending rates by July, its Chairman and Managing Director M V Nair said here on Thursday. He added that there had been a 15.5 per cent growth on credit last year and Union Bank had set a target of 25 per cent for the current financial year, well above the central bank’s recommended 20 per cent. |
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| Govt cap on wage hike may derail IBA-unions talks | 19-JUN-09 |
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| The wage revision talks between the United Forum of Bank Unions (UFBU), an umbrella body of bank employees’ organisations, and the Indian Banks’ Association (IBA) have hit a hurdle after the government asked IBA to offer an increase of only up to 15 per cent instead of the 17 per cent indicated earlier. |
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| 'We want sufficient NIM to plough back funds' | 10-JUN-09 |
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| Amid the ongoing global recession and financial turmoil, Union Bank of India is benefiting from its new strategy. The bank now needs Rs 2,000 crore to fund its expansion plans. In a wide-ranging interview, Union Bank of India Chairman and Managing Director M V Nair tells Abhijit Lele and Sidhartha that a part of this amount is expected to come from the government and that, to plough back money, the bank intends to wait till its net interest margin (NIM) reaches 3.24 per cent. |
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| Union Bank eyes business of Rs 3-lakh cr in FY10 | 04-JUN-09 |
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| Embarking upon this high-tech business model in 2007, the sixth largest public sector bank in India proposes to step up its syndicated loans to Rs 25,000 crore this year as compared to Rs 4,400 crore in the last financial year. |
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| M V Nair likely to be bank body chairman | 04-JUN-09 |
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| Union Bank Chairman M V Nair is tipped to become the chairman of Indian Banks’ Association (IBA). Punjab National Bank CMD K C Chakrabarty was originally slated to head the banking body. But now that Chakrabarty is going to take over as Reserve Bank’s Deputy Governor, a hunt was on for the banking body’s top post. |
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| Union Bank aims for Rs 3 lakh cr biz by '10 | 18-FEB-09 |
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| To achieve the target, the Mumbai-based bank is planning to open 3,000 branches and hire the same number of people. The bank is also planning to spend around Rs 100 crore in the current financial year to upgrade technology. |
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