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Union Bank Of India
State-owned Union Bank of India On Thursday reported 6.64 per cent rise in standalone profit after tax (PAT) to Rs 5,316 crore for three months ended March 2026. The bank had posted a PAT of Rs4,985crore in the same quarter of the preceding fiscal year. Net Interest Income (NII) or core income declined by 1.14 per cent year-on-year to Rs 9,406 crore during the quarter under review. Total income dropped to Rs 31,851.15 crore in the quarter under review from Rs 32,752.67 crore in January-March 2025, the lender said in a stock exchange filing. However, asset quality improved with Gross Non-Performing Assets (GNPAs) declining to 2.82 per cent in the March quarter from 3.6 per cent in the year-ago period. Net NPAs also eased to 0.48 per cent from 0.63 per cent. Also, the board recommended a dividend of Rs 5 per equity share of Rs 10 each for financial year 2025-26. The payment is subject to shareholders' approval. Shares of Union Bank of India declined 6.42 per cent to Rs 182.2 apiec
The Delhi High Court on Monday refused to interdict a show cause notice issued by Union Bank of India to industrialist Anil Ambani's son Jai Anmol Ambani in relation to proceedings to declare fraudulent the bank account of Reliance Home Finance Ltd (RHFL). Justice Jasmeet Singh asked petitioner and RHFL director Jai Anmol Ambani to place his stand before the bank within 10 days and clarified that the effect of any consequent decision taken by the bank would be subject to the court order in the present matter. The judge asked the bank to pass a "speaking order" and place the same before the court. "I will not interdict a show cause notice. You argue in show cause. I will say whatever you have to say, they will ensure they address. Show cause notice I will not (interdict). I will not say they will not proceed. I will keep the writ petition pending. Let's see what the order is," the court told Jai Anmol Ambani. "It is agreed between the parties that the petitioner will reply to the sh
The government has appointed Asheesh Pandey as managing director (MD) and CEO of Union Bank of India and Kalyan Kumar as head of Central Bank of India for a period of three years. The Appointments Committee of the Cabinet headed by the Prime Minister approved these appointments for an initial period of three years, sources said. Pandey, currently Executive Director of Bank of Maharashtra, has been appointed as MD and CEO of Union Bank of India for a period of three years with effect from date of assumption of charge of the office. Kumar, Executive Director of Punjab National Bank (PNB), will succeed M V Rao as MD and CEO of Central Bank of India after his superannuation in July. The Financial Services Institutions Bureau (FSIB) on May 30 recommended Pandey and Kumar for the post of MD and CEO of Union Bank of India (UBI) and Central Bank of India, respectively. FSIB is headed by former Department of Personnel and Training Secretary Bhanu Pratap Sharma. Other members of the headhu
The Supreme Court on Tuesday cancelled bail granted to former DHFL promoter Dheeraj Wadhawan in the multi-crore bank loan scam case. A bench of Justices Sanjay Kumar and Satish Chandra Sharma passed the order after perusing the report filed by a medical board and directed Wadhawan to surrender within two weeks. The Delhi High Court on September 9, 2024 granted him bail on medical grounds saying Wadhawan fell within the parameters of a "sick person". The order came on an appeal filed by the CBI appeal against the high court order. Additional Solicitor General S V Raju, representing the agency, had earlier said said Wadhawan suffered from no serious medical ailments and huge amounts of money were siphoned off in the case. The Wadhawan brothers -- Kapil and Dheeraj-- were arrested in this case in July 2022. The agency filed a chargesheet in October 2022 following which a court took its cognisance. The FIR was registered on a complaint made by the Union Bank of India, which alleged