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UBI News

01 Apr 2021

Major relief to PNB customers, cheque book to remain valid till June 30

Major relief to customers. Old cheque book to continue. Use old cheque book till June 30 2021.

02 Feb 2021

OBC, UBI, PNB merger: What happens to your debit cards, internet banking?

According to information tweeted by PNB, the user ID of the old customers of Oriental Bank of Commerce and United Bank of India has changed. After the merger of OBC and UBI banks with PNB, the MICR Code and IFSC Code will also change from April 1, 2021.

public sector banks

19 Dec 2017

PSU Banks' capital raises are credit positive: Moody's

On a pro forma basis, it said, the capital raise will add about 100 basis points to PNB's Common Equity Tier 1 (CET1) ratio, which was 8.1 percent as of September 2017.

22 Nov 2017

UBI gets SEBI approval for Rs 1,000-cr equity issue via QIP

The lender had raised Rs 127.49 crore through sale of shares to qualified institutional investors in May.

Universal Basic Income

19 Apr 2017

UBI can work only if welfare schemes are phased out: CEA

The radical idea of giving free money under a universal basic income plan to reduce poverty can work in India only if the plethora of welfare schemes are phased out, Chief Economic Adviser Arvind Subramanian has said.

Chief Economic Advisor

24 Feb 2017

UBI only after withdrawal of present schemes: Subramanian

Chief Economic Advisor Arvind Subramanian on Friday said Universal Basic Income (UBI), as proposed in the recent Economic Survey, can be put in place only after withdrawal of the existing welfare projects.

03 Feb 2017

Merger of weak PSU banks can be a possibility: UBI CEO

Merger of weak public sector banks cannot be ruled out in a run up to meet Basel III norms, a top bank official said today.

Economic Survey

31 Jan 2017

Economic Survey 2017 pitches for implementation of UBI to provide basic income for all

Invoking Mahatma Gandhi's vision of "wiping every tear from every eye", the Economic Survey today made a strong pitch for implementing Universal Basic Income (UBI) that stipulates a certain income for the poor.

02 Jan 2017

Home, auto, personal loans get cheapest in 6 years as banks slash lending rate

Improvement in funds flow after demonetisation, major public sector banks in the country have set off a regime of low interest rates on consumer loans like home and auto loans.

05 Jun 2016

Money for nothing? Swiss vote on basic income for all

In a global first, the Swiss will vote Sunday on a radical proposal to provide the entire population with enough money to live on, no strings attached.

United Bank of India

30 Mar 2016

UBI to raise Rs 480 crore from govt via preferential allotment

State-owned United Bank of India (UBI) today said the government has approved capital infusion of Rs 480 crore in lieu of preferential allotment of shares.

07 Mar 2016

After SBI and PNB, UBI to declare Vijay Mallya wilful defaulter?

After being declared as wilful defaulter by State Bank of India and Punjab National Bank, one more state-run lender United Bank of India Monday said it is continuing its efforts to declare liquor barron Vijay Mallya as wilful defaulter.

United Bank of India

28 Aug 2015

UBI looks to bring down gross NPA below Rs 6,000 cr

The gross NPA level in percentage terms was around 9.5 percent.

United Bank of India

17 Aug 2015

United Bank cuts interest rates by upto 0.50% on select maturities

State-owned United Bank of India Monday announced a cut in deposit rates for various maturities by 0.25-0.50 percent.

United Bank of India

03 Aug 2015

UBI Q1 net falls 21% at Rs 52 crore

State-owned United Bank of India Monday reported a 20.75 percent dip in net profit at Rs 52.22 crore on account of higher provisioning.

United Bank of India

28 Jun 2015

United Bank tops list with highest bad loans among PSU lenders

United Bank of India has topped the list of public sector lenders with maximum bad loans including restructured assets as a percentage of total advances.

Kingfisher Airlines

23 Jun 2015

UBI ''serious'' to recover money from Kingfisher Airlines

In the recent AGM of the Kolkata headquartered bank, managing director and CEO P. Srinivas said: "We are fighting a legal battle against them (Kingfisher Airlines) beyond the consortium and we have already declared their corporate guarantor as willful defaulter."

United Bank of India

21 Jun 2015

United Bank mulling to shift treasury department to Mumbai

Kolkata-based lender United Bank of India is mulling at shifting its treasury department to the financial capital of the country in order to stay closer to the market.

United Bank of India

09 Jun 2015

United Bank of India cuts lending rate by 0.1%

State-owned United Bank of India (UBI) Tuesday reduced lending rate by 0.1 percent to 9.90 percent, a move which will lower EMIs for its borrowers.

04 Jun 2015

Indian Bank cuts lending rate by 0.3%, UBI slashes FD rate

State-owned Indian Bank Thursday slashed base rate or the minimum lending rate by 0.3 percent while United Bank of India (UBI) has reduced fixed deposit rates by up to 0.25 percent on select maturities.

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