MTNL fails to pay Rs 35.15 cr interest to Union Bank of India Business Today
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Category: Allahabad Bank
CBI registers fresh bank fraud case against Siddhi Vinayak Logistics
The Central Bureau of Investigation has registered a fresh case against Surat-based Siddhi Vinayak Logistics Limited (SVLL) and others for allegedly cheating the erstwhile Andhra Bank of over ₹89 crore. The company, which had taken loans of about ₹2,000 crore from 13 banks, is already facing probe by multiple agencies.The latest FIR also names Laxmi Baid, Rajkumar Baid, Deepak Baid and Roopchand Baid as accused persons. They had secured two term loans involving ₹100 crore for SVLL from July 2012 to September 2014, for the purchase of 336 commercial vehicles.The company submitted copies pertaining to 251 vehicles as security against the loans. However, on verification from the…
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Union AMC aims to double assets base to Rs 10,000 crore this year
The fund house has more branches, workforce, and number of customers at its disposal thanks to the amalgamation of Andhra Bank and Corporation Bank with Union Bank of India (UBI) last yearClose to 39 per cent of its average AUM as of November 2020 came from beyond the 30 biggest cities, against an industry average of 16 per centAshley Coutinho Mumbai
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Union Bank completes IT integration of all Andhra Bank branches with itself-Telangana Today
“We are extremely delighted to achieve complete integration of all branches and delivery channels of erstwhile Andhra Bank and Corporation Bank ,” the bank’s managing director and CEO Rajkiran Rai G said in the release.
Updated On – 25 January 2021, 07:28 PM
Representational Image.
Suresh N Patel sworn in as Central Vigilance Commissioner
The government on Wednesday appointed former Andhra Bank CEO and incumbent vigilance commissioner Suresh N Patel as the new chief of the Central Vigilance Commission. Former Intelligence Bureau director Arvind Kumar was appointed as a vigilance commissioner along with ex-IAS officer Praveen Kumar Srivastava.The post of the central vigilance commissioner (CVC) had remained vacant for a year during which Patel had been working as the acting CVC since June this year.
Patel was sworn in as the chief of the anti-corruption watchdog by President Droupadi Murmu at Rashtrapati Bhavan. “At a ceremony held today at 10.00 hrs at Rashtrapati Bhavan, Suresh N Patel, was sworn in as the Central…
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FinMin revises letter, scotches PSU bank merger speculation
MUMBAI :The Union finance ministry has rectified the agenda of a parliamentary committee meeting scheduled for early next year, putting an end to speculation of a potential merger of public sector banks—UCO Bank with Union Bank of India, and Bank of India with Bank of Maharashtra.
In a letter addressed to, among others, the bank chiefs of the four PSU banks and Reserve Bank of India governor on Thursday, the finance ministry said that the members of the parliamentary committee would hold informal…
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North East SFB Appoints Satish Kumar Kalra As Interim MD & CEO – BW Businessworld
North East SFB Appoints Satish Kumar Kalra As Interim MD & CEO BW Businessworld
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Union Bank Employees’ National Strike on January 25 Against Lack of Recruitment, Regularisation
Employees of public sector Union Bank of India (UBI) are gearing up for one-day strike call on January 25, on a 14-point charter of demands. The strike is being called for by the Joint Forum of Union Bank Unions, the umbrella organisation of the four unions in the bank.
The major demands include recruitment of adequate clerical staff through the IBPS (Institute of Banking Personnel Selection) exams, appointment of sub-staff and regularisation of contract, casual and temporary staff in the sub staff categories.
Various other demands relate to the bank’s policy, including payment of minimum wages to casual employees, relieving of staff holding transfers and higher assignment orders…
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Andhra Bank-Union Bank IT integration completed
Our Bureau
Updated – January 25, 2021 at 06:24 PM. The IT integration of all branches of erstwhile Andhra Bank (e-AB) with Union Bank of India (UBI) has been completed, according to UBI.In November 2020, the IT integration of all the branches of erstwhile Corporation Bank (e-CB) with UBI was completed.Andhra Bank and Corporation Bank were amalgamated with UBI with effect from April 1, 2020, making the amalgamated entity the fifth largest public sector bank in the country.As of March-end 2020, UBI had 4,281 branches. Following the amalgamation, the bank’s network jumped to 9,587 on April 1, 2020.“All customers of erstwhile Andhra Bank and Corporation Bank have been successfully…
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Bank told to pay interest subsidy on education loan, ₹20,000 compensation
A district consumer commission directed Andhra Bank to pay ₹1.14 lakh, the interest subsidy on an education loan, and ₹20,000 as compensation to a complainant. The commission held that the bank was deficient in service for not having arranged the interest subsidy amount to the complainant.The District Consumer Disputes Redressal Commission – I Hyderabad was dealing with a complaint filed by Nagendra Naren, a resident of Miyapur. The opposite parties were the Assistant General Manager, Andhra Bank, SR Nagar branch, and the Managing Director and Chief Executive Officer, Andhra Bank, Saifabad.The complainant stated that he had availed an education loan of ₹2.20 lakh to pursue B Tech…
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