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16 June 2021
09:17 hour

Union Bank of India to acquire 9% stake in NARCL

Money Works 4 Me

08/06/2021 - 22:56

Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution


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    Apart from Indian Bank, LIC of India, Bank of India, Union Bank of India and Deutsche Bank are the other shareholders in the company.
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  2. Union Bank of India looking to digitise recovery processes (05/04/2021 - Financial Express)
    Union Bank of India is looking to digitise and automate its recovery processes, according to a tender document issued by the lender.
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  3. PM SVANidhi: Covid 2.0 disrupted ‘ambitious’ 30 lakh annual loan disbursement target, says MoHUA Jt Secy (03/06/2021 - Financial Express)
    Among the top banks disbursing maximum applications in 12 months under the scheme were SBI (6.15 lakh), Union Bank of India (2.37 lakh), Bank of Baroda (2.03 lakh), Bank of India (1.63 lakh), and Punjab National Bank (1.54 lakh).
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  4. PM SVANidhi: 84% sanctioned loans disbursed to street vendors since launch of scheme; SBI top lender (18/04/2021 - Financial Express)
    Credit and Finance for MSMEs: Among leading lenders, State Bank of India has led the tally with over 6 lakh loans disbursed. Union Bank of India, Bank of Baroda, Bank of India, and Canara Bank were other top lenders with 2.36 lakh, 2.03 lakh, 1.61 lakh, and 1.51 lakh loans disbursed respectively.
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  5. Union Bank of India, Syndicate Bank post highest UPI failure rates; Paytm sees lowest decline rate (21/02/2021 - Financial Express)
    SBI, HDFC Bank, Axis Bank, and ICICI Bank were among the top remitter banks witnessing the highest UPI transaction volume in January. Among beneficiary banks, CITI Bank saw zero transactions failing due to technical reasons.
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  6. Union Bank of India gets nod to raise Rs 1,750 crore through QIP (18/05/2021 - Money Works 4 Me)
    The committee of the directors of the bank at its meeting held on May 17, 2021, has approved the same
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  7. City Union Bank chief expects total recast at around 5-6% (09/02/2021 - Financial Express)
    Private sector lender City Union Bank (CUB) said the bank has identified accounts worth Rs 1,037 crore for restructuring during the fourth quarter of the current fiscal.
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  8. Monaker to acquire majority stake in International Financial Enterprise Bank (07/04/2021 - Seeking Alpha)

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  9. TATA moves ahead to acquire BigBasket, gets CCI nod; will compete with Amazon, RIL in e-grocery biz (29/04/2021 - Financial Express)
    Competition Commission of India (CCI) today gave the go-ahead for Tata Group’s proposal to acquire a majority stake in Alibaba-backed online grocery store BigBasket.
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  10. Central Bank of India, Indian Overseas Bank shares jump 20% each on privatisation rumours (18/02/2021 - Financial Express)
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  11. Mishra Dhatu Nigam allots CPs worth Rs 50 crore to Union Bank of India (05/06/2021 - Money Works 4 Me)
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  12. Stocks in focus: Maruti Suzuki, HDFC Bank, Union Bank of India, NTPC, Panacea Biotec, Burger King, IRCON (06/04/2021 - Financial Express)
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  13. : SoFi plans to acquire community bank to speed up bank-charter process (09/03/2021 - Market Watch)
    Social Finance Inc. plans to acquire a small community bank as it seeks to "accelerate" its own process of obtaining a bank charter.
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  14. RHFL defaults on interest payment of Rs 31.32 crore (25/05/2021 - Financial Express)
    The list of lenders includes Bank of Baroda, Punjab National Bank, ICICI Bank, HDFC Bank, Canara Bank, Bank of India and Indian Bank, among others.
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  15. NHAI raises Rs 9,731 crore to part-fund 1,276-km Delhi-Mumbai expressway (31/03/2021 - Financial Express)
    “The major share of the funding came from the largest bank in India, the State Bank of India, which contributed Rs 5,000 crore. Punjab National Bank, Bank of Maharashtra and Axis Bank are the other investors in the SPV,” NHAI said in a statement.
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  16. Govt to infuse Rs 14,500 crore in 4 PSU banks through recapitalisation bonds (31/03/2021 - Financial Express)
    The four lenders in which government will infuse capital include Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank.
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  17. Federal Bank board approves Rs 148 crore rights issue subscription of FFSL (18/05/2021 - Financial Express)
    FFSL is a non-deposit taking systemically important NBFC, which acquired the Reserve Bank of India’s licence in 2010. It was incorporated on April 17, 1995. Federal Bank holds 74% stake in the NBFC, which had a turnover of Rs 697.22 crore in 2020-21.
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  18. Clean-up: IDBI Bank to mull setting off accumulated losses as on April 1, 2021 (10/02/2021 - Financial Express)
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  19. Union Budget: Time to swing into action (10/02/2021 - Financial Express)
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  20. RIL, Bharti Airtel, Tata Motors, GSK Pharma, Route Mobile, L&T, Union Bank of India stocks in focus (18/05/2021 - Financial Express)
    Domestic equity market benchmarks BSE Sensex and Nifty, after rising on the first day of the week, are now looking to carry on the momentum further.
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  21. Bay Tree Holdings cuts stake in Yes Bank by more than 2% (12/05/2021 - Financial Express)
    The stake reduction was carried out through open market sales in multiple tranches between January 6 and May 6. Bay Tree was an anchor investor in Yes Bank’s July 2020 further public offer (FPO) of Rs 15,000 crore.
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  22. Slew of measures to enhance credit flow (07/04/2021 - Financial Express)
    Raj Kiran Rai G, chairman, Indian Banks’ Association and MD & CEO of Union Bank of India, said the extension of on-tap TLTRO scheme and additional funding to AIFIs would help in providing resources for the needy segments of the economy.
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  23. Mucormycosis: India has over 8,800 black fungus cases, says Union minister Sadananda Gowda (23/05/2021 - Financial Express)
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  24. Will surge in Covid cases shorten banking hours? Here’s what main union has told IBA (21/04/2021 - Financial Express)
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  25. Dalal Street surges higher on Monday helped by bank stocks; will Nifty regain 15,000 this week? (17/05/2021 - Financial Express)
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  26. Yes Bank share price under pressure as Axis Bank, FPIs cut stake, Q4 results disappoint; falls 7.6% in Apr (04/05/2021 - Financial Express)
    Yes Bank share price is under severe pressure, after heavyweight investors cut stake in the previous quarter, and the company posted disappointing fiscal fourth quarter results
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  27. Pacific Western Bank buys Homeowners Association Services Division from MUFG Union Bank, N.A. (01/04/2021 - Seeking Alpha)

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  28. Coronavirus in India Live News: PM Modi to hold high-level meeting today on Covid situation, vaccination; India reports 3,26,098 new cases (15/05/2021 - Financial Express)
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  29. PNB, MRF, Mrs Bectors Food, HDFC, Emami, InterGlobe Aviation, Union Bank of India stocks in focus (07/06/2021 - Financial Express)
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  30. An unapologetic Union Budget (15/02/2021 - Financial Express)
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  31. Bharat Forge to acquire additional 49% stake in Kalyani Strategic Systems (18/05/2021 - Money Works 4 Me)
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  32. Sensex, Nifty beat global stock markets in February, despite 3% fall in last 5 days (01/03/2021 - Financial Express)
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  33. In ‘no rush’ to become an small finance bank: Fino Payments Bank (17/05/2021 - Financial Express)
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  34. Coronavirus in India Live News: India reports 3.1 lakh new Covid cases, 4,077 deaths in last 24 hours; 15-day lockdown begins in West Bengal (16/05/2021 - Financial Express)
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  35. Nitesh Ranjan assumes charge as Union Bank ED (11/03/2021 - Financial Express)
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  36. KKR to acquire majority stake in ERM (17/05/2021 - Seeking Alpha)

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  37. Union Bank of India reports Rs 1,330-crore net as asset quality improves (07/06/2021 - Financial Express)
    The non-interest income grew 50% quarter-on-quarter (q-o-q) and 23% y-o-y to Rs 4,551 crore, mainly on account of recovery in the written-off accounts. Overall, the net profit for FY21 stood at Rs 2,906 crore, compared to a net loss of Rs 6,613 crore during FY20.
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  38. India Central Bank Balance Sheet (20/03/2021 - Trading Economics)
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  39. CannaOne to acquire 51% stake in Payright (31/03/2021 - Seeking Alpha)

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  40. India launches Connectivity Partnership with the European Union (08/05/2021 - Financial Express)
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  41. Coronavirus in India Live News: India reports over 4 lakh new Covid-19 cases for fourth day in a row; 4,092 deaths (09/05/2021 - Financial Express)
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  42. Infosys, Coal India, UCO Bank, PNB, Bank of India, Tata Steel, IOCL, hospital stocks in focus (08/06/2021 - Financial Express)
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  43. Coronavirus cases in India Live Updates: In India’s war against coronavirus, is achieving herd immunity a myth? (11/06/2021 - Financial Express)
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  44. India’s GDP grows 0.4% in Q3, returns to growth after two consecutive quarters of decline (26/02/2021 - Financial Express)
    The recent reforms, along with the Union Budget have been hailed as revolutionary that could bring India back to double-digit growth.
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  45. Bank of India (BANKINDIA) Q4 2021 Earnings Call Transcript (04/06/2021 - AlphaStreet)
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  46. India’s turnaround Budget (11/02/2021 - Financial Express)
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  47. Indian Railway undergoing dynamic growth with world-class advancements in both freight and passenger transportation: Mangal Dev, Hitachi India (01/04/2021 - Financial Express)
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  48. Red Light Holland to acquire 80% stake in Happy Caps Farm (13/04/2021 - Seeking Alpha)

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  49. Future FinTech inks agreement to acquire 60% stake in Hi-Card (23/03/2021 - Seeking Alpha)

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