Union Bank of India is a major public sector bank in India with a long and established history. Founded in 1919 in Mumbai, its headquarters are also located in Mumbai, Maharashtra, India. It is one of the largest public sector banks in India. A significant merger with Andhra Bank and Corporation Bank in 2020 greatly expanded its network. It has a widespread network of branches and ATMs across India, and also some oversea locations. It provides a wide range of banking products and services, including savings and current accounts, loans (personal, home, vehicle, etc.), investment services, and digital banking solutions. It has over 153 million customers, and a very large business total in rupees. In essence, Union Bank of India is a significant player in the Indian banking sector, serving a vast customer base with a comprehensive array of financial services.

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Landmark Ruling: Supreme Court Overturns Disciplinary Action in A.M. Kulshrestha vs Union Bank of India, Emphasizing Charge Sheets Require CVC Guidance to be Valid

In a significant judgment, the Supreme Court of India has quashed the disciplinary action taken against an employee of the Union Bank of India, A.M. Kulshrestha, on the grounds that the charge sheet issued against him was arbitrary and violative of the principles of natural justice. The court held that the charge sheet was issued without the advice of the Central Vigilance Commission (CVC), which is mandatory in cases where disciplinary action is contemplated against a government servant.

The case involved A.M. Kulshrestha, a General Manager with the Union Bank of India, who was issued a charge sheet in 2014 alleging irregularities in the sanction and disbursement of loans. The charge sheet was issued by the bank’s disciplinary authority without obtaining the advice of the CVC, as required under the Central Civil Services (Classification, Control, and Appeal) Rules, 1965.

Kulshrestha challenged the charge sheet and the subsequent disciplinary action before the Central Administrative Tribunal (CAT), which upheld the bank’s decision. However, the Supreme Court, hearing Kulshrestha’s appeal, set aside the CAT’s order and quashed the disciplinary action.

The apex court held that the charge sheet issued without the CVC’s advice was arbitrary and violative of the principles of natural justice. The court observed that the CVC’s advice is mandatory in cases where disciplinary action is contemplated against a government servant, and its absence renders the charge sheet invalid.

The court clarified that the CVC’s role is not limited to advising on the nature of the penalty but also extends to advising on whether the charges are prima facie established and whether the evidence collected is sufficient to initiate disciplinary proceedings. The court noted that the CVC’s advice is essential to ensure that the disciplinary action is fair, transparent, and reasonable.

The judgment has significant implications for government servants and public sector employees, emphasizing the importance of following due process and adhering to established procedures in disciplinary matters. The court’s ruling underscores the need for adherence to the principles of natural justice and the importance of the CVC’s role in ensuring fairness and transparency in disciplinary proceedings. By quashing the disciplinary action against Kulshrestha, the Supreme Court has sent a clear message that arbitrary and unjust actions will not be tolerated, and that the rights of government servants will be protected.

India’s industrial production growth may have decelerated to 1.2% year-over-year in April, according to a report by UBI.

The Union Bank of India (UBI) has released a report predicting a significant slowdown in India’s Index of Industrial Production (IIP) for April 2025. The IIP is expected to decline to 1.2% year-on-year, down from 3% in March, due to a broad-based slowdown in economic activity, particularly in the mining and manufacturing sectors. This is a significant drop from the 5.2% growth recorded in April 2024, indicating a slowdown in economic activity in the Indian economy.

The report attributes the anticipated slowdown to the spike in global trade uncertainty, particularly the reciprocal tariff hikes by the US, which is likely to affect exports. At least 30-35% of the weight in IIP is attributed to exports, which is expected to come under pressure until trade clarity is achieved. The Industrial Production data for April is scheduled to be released on May 28, providing insights into the country’s manufacturing momentum and economic activity.

The report cites several factors contributing to the anticipated slowdown, including mixed trends in high-frequency indicators, a decline in petroleum consumption, and a widening merchandise trade deficit. The construction sector has also witnessed a moderation in April, with steel consumption and cement production slowing down. The core sector, which has a significant contribution to the IIP, has slowed to an eight-month low of 0.5% year-on-year in April.

The report also anticipates a recovery in aggregate demand to remain weak, with overall consumer IIP expected to slip into the negative zone. Consumption demand is expected to be led by urban demand, while rural demand may have weakened further in April. However, capital goods IIP growth is expected to have improved in April due to favourable base effects. The report concludes that intermediate, infrastructure, and construction goods may have worsened in April compared to the previous month due to the fall in cement and steel production.

Overall, the report suggests that the Indian economy is experiencing a slowdown, driven by global trade uncertainty and a decline in exports. The anticipated decline in IIP for April 2025 is expected to be a significant drop from the previous year, indicating a slowdown in economic activity. The report’s predictions will be confirmed when the Industrial Production data for April is released on May 28.

India’s GDP growth expected to surge to 7.0% in Q4 FY25, according to a report by UBI

According to a report by the Union Bank of India (UBI), the Indian economy is expected to grow at a rate of 7.0% in the fourth quarter of the financial year 2025, up from 6.2% in the third quarter. This growth is driven by an improvement in Gross Value Added (GVA) growth, which is expected to increase to 6.7% in Q4 from 6.2% in Q3. The report notes that high-frequency indicators present a mixed trend, but the economic activity index suggests a slight upward bias.

The UBI report also notes that the revised estimate for full-year FY25 growth is likely to be lowered to 6.3% from 6.5% previously. The report cites various factors that are likely to support this growth recovery, including a possible revival in rural demand, continued government spending, and large-scale religious events like the Mahakumbh. The Mahakumbh, in particular, is expected to have a significant impact on the economy, with a nominal growth impact of Rs 2-3 lakh crore.

The Reserve Bank of India’s (RBI) GDP nowcast also projects Q4 FY25 growth at 6.6%, indicating a sequential improvement in economic momentum during the second half of FY25. The International Monetary Fund (IMF) has also projected India’s GDP at 6.2% in FY25 and 6.3% in fiscal 2026, driven by strong private consumption. However, the IMF notes that global growth is expected to slow to 2.8% in 2025.

Overall, the report suggests that the Indian economy is expected to experience a moderate growth recovery in the fourth quarter of FY25, driven by a combination of factors including government spending, rural demand, and large-scale events. However, the growth rate is expected to be lower than previously estimated, and the economy will need to navigate various challenges to achieve sustained growth in the long term. The UBI report’s heatmap of high-frequency indicators shows a mixed picture, but the economic activity index suggests a mild upward bias, indicating a pickup in private sector activity.

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Union Bank of India Fuels Aspirations: Chhonzin Angmo Shatters Barriers as First Visually Impaired Woman to Reach the Summit of Mount Everest

Chhonzin Angmo, a 29-year-old visually impaired employee of Union Bank of India, has made history by becoming the first female with a visual impairment to reach the summit of Mount Everest, the world’s highest peak. Born with sight, Angmo lost her vision at the age of eight due to a reaction to medication. Despite this disability, she has shown remarkable resilience and determination, already having climbed several peaks, including Siachen Kumar post and an unnamed peak in Ladakh, before embarking on her Everest journey.

Angmo’s achievement is a testament to her unwavering spirit and perseverance. She received a National Award from the President of India for the Empowerment of Persons with Disabilities in 2024 under the ‘Sarvshresth Divyangjan’ category. Her successful ascent of Mount Everest showcases her trust in her team and her unrelenting spirit, inspiring millions with her remarkable feat.

Union Bank of India, which supported Angmo’s quest, celebrates her achievement as an inspiration to humanity, embodying the spirit of empowerment and inclusivity that the bank strives to promote. Angmo’s story encourages people to push beyond perceived limitations, demonstrating that with courage, resilience, and determination, anyone can overcome adversity. Her achievement is a shining example of what can be accomplished with hard work and dedication, and serves as a motivation to both the underprivileged and privileged to strive for greatness.

Angmo’s historic climb is a milestone not only for her but also for the visually impaired community, showing that with the right support and mindset, anything is possible. Her determination and perseverance have inspired countless people, and her achievement will be remembered for years to come. As a role model, Angmo’s story will continue to motivate and inspire people to chase their dreams, regardless of the obstacles they may face.

Tomorrow is the deadline to apply for 500 Specialist Officer vacancies at Union Bank; apply now through the direct link provided

The Union Bank of India has announced a recruitment drive for 500 specialist officer (SO) posts, with the online application process set to close on May 20, 2025. Interested and eligible candidates can apply through the official website at www.unionbankofindia.co.in. The recruitment drive offers positions across two major roles: assistant manager (credit) and assistant manager (IT). Candidates who meet the required qualifications and eligibility criteria are urged to submit their applications before the deadline.

The 500 specialist officer positions are being filled, with 250 posts designated for assistant manager (credit) and 250 for assistant manager (IT). These positions fall under the Junior Management Grade Scale I (JMGS-I), and successful candidates will receive a structured pay scale beginning at Rs 48,480. The basic pay structure for both assistant manager (credit) and assistant manager (IT) posts is the same, with a salary range of Rs 48,480-2,000/7-Rs 62,480-2,340/2-Rs 67,160-2,680/7-Rs 85,920.

To be eligible for the assistant manager (credit) role, applicants must be graduates from a government-recognised university with either a CA/CMA (ICWA)/CS qualification or a full-time MBA/MMS/PGDM/PGDBM in finance with a minimum of 60% marks. For the assistant manager (IT) position, candidates must have a full-time degree in a relevant field such as computer science, IT, electronics, or related fields from a recognised institution. Additional certifications such as AWS, CCNA, CEH, CISA, CISSP, and Google Data Analytics are desirable.

The selection process may include an online test, group discussion, screening, or interview, depending on the number of candidates who apply. The final decision on the method of selection will be taken by the bank. To apply, candidates must visit the official website and click on the recruitment link, providing the required personal and academic details and uploading necessary documents. A printout of the completed form should be retained for future reference.

Candidates are advised to refer to the official notification available on the Union Bank website for detailed eligibility, vacancy distribution, selection process, and salary structure. The bank has also provided a direct link to apply online for the recruitment drive. With over 500 positions available, this is a significant opportunity for candidates looking to join the banking sector. As the deadline for application is May 20, 2025, interested candidates should apply as soon as possible to avoid missing the opportunity.

Uncertainty clouds India’s export prospects, with the trade deficit expected to balloon to 1.2% of GDP by fiscal year 2026, according to a report by UBI.

India’s trade outlook for the current financial year is uncertain due to the threat of reciprocal tariffs by the United States. According to a report by Union Bank of India, the country’s current account deficit (CAD) is expected to widen to 1.2% of GDP in FY26, up from 0.9% in FY25. The report attributes this to a sharp rise in imports amid ongoing trade disruptions, despite a 90-day pause on the proposed US tariffs.

The merchandise trade deficit widened to $26.42 billion in April 2025, exceeding the estimated $20 billion and the $19.19 billion recorded in April 2024. This was driven by a $1.4 billion increase in imports and a $3.5 billion decline in exports. The non-oil non-gold (NONG) trade deficit nearly tripled on a monthly basis, with major contributors being chemicals, machinery, and electronics. The report suggests that this sharp jump in NONG imports could indicate early signs of dumping-related activity in these sectors.

However, India’s services trade surplus remained strong, standing at $17.8 billion in April 2025, slightly lower than $18.1 billion in March 2025, but significantly higher than $13.4 billion in April 2024. The strong performance in the services sector is seen as a positive trend, especially in the context of a slowing global economy. The services surplus is expected to provide some relief to India’s overall current account position in the coming months.

The report highlights that the threat of US tariffs continues to weigh on the outlook for Indian exports, and the widening trade deficit is a concern. The oil and gold trade deficit narrowed in April 2025, but this was offset by the steep increase in the NONG trade deficit. The report concludes that the current account deficit is expected to widen in FY26, but the services sector is likely to provide some support to India’s trade position. Overall, India’s trade outlook remains uncertain, and the country needs to be cautious in its trade dealings to mitigate the impact of the US tariffs.

Union Bank of India expects metal prices to continue exerting upward pressure on Wholesale Price Index (WPI) in the foreseeable future, as reported by The Economic Times.

According to recent reports, metal prices are expected to continue their upward trend, which will likely keep pressure on the Wholesale Price Index (WPI) in the coming months. This is stated by the Union Bank of India and reported by The Economic Times and Times of India. The increase in metal prices will likely contribute to a rise in the WPI, which measures the average change in prices of goods and services sold in the wholesale market.

In April, the WPI fell to 0.85%, as reported by NDTV. However, experts believe that this decrease may be short-lived due to the ongoing upward trend in metal prices. The Reserve Bank of India (RBI) may still consider cutting interest rates by another 75 basis points in the fiscal year 2026, as inflation has cooled to multi-month lows, according to The Financial Express.

The current decrease in WPI is seen as a positive sign, with The Indian Express commenting that sustained moderation in inflation is a good low. Experts attribute the decrease in inflation to a combination of factors, including a decline in global commodity prices and a normal monsoon season. However, the upward pressure on metal prices may offset these factors and keep the WPI from decreasing further.

The RBI’s decision to cut interest rates will depend on various factors, including the trajectory of inflation, economic growth, and global economic trends. If metal prices continue to rise, it may limit the RBI’s ability to cut interest rates further, as higher metal prices could contribute to increased production costs and higher inflation.

In conclusion, while the current decrease in WPI is a positive sign, the upward trend in metal prices is likely to keep pressure on the WPI in the coming months. The RBI will need to carefully consider the impact of metal prices on inflation and economic growth when making decisions about interest rates. As the economy continues to evolve, it will be important to monitor the trajectory of metal prices and their impact on the WPI and inflation.

Public Sector Banks Take the Lead: Home Loans Drop Below 8% as RBI Rate Cut Boosts Access to Affordable Housing

The Reserve Bank of India (RBI) has mandated that all retail floating-rate loans, including home loans, be linked to an external benchmark, typically the RBI’s repo rate, since October 1, 2019. This means that when the RBI reduces the repo rate, banks are required to pass on the benefit to borrowers. However, it has been observed that public banks have been prompt in complying with this guideline, while several private banks have been slow to adjust.

Despite a cumulative 50-basis-point cut in the repo rate in February and April 2025, leading private banks such as ICICI Bank, Axis Bank, and HDFC Bank have not fully transmitted the reduction to customers. For instance, ICICI Bank’s home loan rate remains unchanged at 8.75%, while HDFC Bank has reduced its rate by only 25 basis points to 8.50%. On the other hand, government banks such as Canara Bank, Bank of Maharashtra, and Union Bank of India are offering competitive interest rates, ranging from 7.80% to 7.90%, for a home loan of ₹1 crore with a tenure of 20 years.

Experts believe that private lenders may revise their rates soon, as large lenders usually align their rates over time. A lower interest rate can significantly reduce the monthly EMI burden, resulting in higher savings and preservation of emergency funds. For example, a home loan of ₹1 crore with a tenure of 20 years at an interest rate of 7.80% would translate to a monthly EMI of ₹82,404, compared to ₹93,144 at an interest rate of 9.35%.

If you’re planning to buy a home, now is a favorable time to act, with multiple public sector banks (PSBs) offering sub-8% interest rates. However, it’s essential to assess factors such as your credit score, income, and loan tenure before making a decision, as these can influence your final interest rate. It’s also important to note that rates are subject to change and may vary depending on the lender and borrower profile. Therefore, it’s crucial to check with lenders for the latest terms and consult a professional before taking a loan.

The Indian Rupee is expected to stabilize around 84.40 against the US Dollar, but tensions at the border could lead to a decline, according to a report by UBI.

The Indian Rupee (INR) has seen a shift in sentiment in recent weeks, becoming more favorable despite ongoing global uncertainties and volatility, according to a report by Union Bank of India. The Dollar Index (DXY) is expected to stabilize at current levels, which could have a positive impact on the INR. The report suggests that the USD/INR pair has shown adherence to previous technical levels, with the pair taking support at 84.45 on April 30. However, the next day, this support level was breached, and the USD/INR fell below the 84 mark, touching 83.7575.

The decline in the USD/INR pair led to significant buying activity from importers and oil companies, who purchased dollars at the lower levels, causing the pair to rebound and close at 84.5725. The report predicts that the Indian Rupee may consolidate at current levels, taking support at 84.40. A break below this level could open the doors to 83.85 levels, while on the upside, the pair is expected to face resistance near 84.90, and a breach of this level could lead to 85.60.

The bank emphasizes the importance of monitoring the Dollar Index (DXY) for any possible overshoot, particularly if current technical levels are breached. Additionally, any news related to probable escalation at the border may hurt the Rupee sentiment. Despite these potential risks, the report maintains a “buy on dips” stance for USD/INR. The recent improvement in sentiment for the Rupee could influence future movements positively.

The report’s outlook on the INR is cautiously optimistic, suggesting that the currency may experience some volatility in the short term but could potentially strengthen in the long term. The bank’s recommendation to “buy on dips” indicates that it expects the USD/INR pair to decline in the short term, providing an opportunity for investors to purchase dollars at a lower price. Overall, the report provides a mixed outlook for the INR, highlighting both the potential risks and opportunities in the foreign exchange market.

Earn up to 8.5% interest on your fixed deposits with RBL and Union Bank, exclusively available to select customers – MSN

Several banks in India have been increasing interest rates on fixed deposits (FDs) to attract customers and stay competitive in the market. Two banks, RBL Bank and Union Bank of India, are offering high interest rates of up to 8.5% on FDs to select customers. This move is expected to woo depositors looking for higher returns on their investments.

RBL Bank is offering an interest rate of 8.5% on FDs with tenures ranging from 2-10 years for senior citizens. For regular customers, the bank is offering an interest rate of up to 8% on FDs with tenures of 2-10 years. These rates are among the highest in the industry, making RBL Bank an attractive option for those looking for higher returns on their deposits.

Union Bank of India is also offering competitive interest rates on FDs. The bank is offering an interest rate of 8.1% on FDs with tenures of 5-10 years for senior citizens. For regular customers, the bank is offering an interest rate of up to 7.8% on FDs with tenures of 5-10 years.

These high interest rates are being offered to select customers, including senior citizens, non-resident Indians (NRIs), and existing customers. The interest rates are also subject to change and may not be available for all deposit amounts. It is essential for customers to check the interest rates and terms and conditions before investing in an FD.

The increase in interest rates on FDs is a result of the Reserve Bank of India’s (RBI) decision to raise the repo rate. The RBI has increased the repo rate by 225 basis points since May 2022, leading to a rise in lending rates and deposit rates. As a result, banks have been increasing interest rates on FDs to attract deposits and maintain their liquidity.

In conclusion, RBL Bank and Union Bank of India are offering high interest rates of up to 8.5% on FDs to select customers. These rates are among the highest in the industry, making them an attractive option for those looking for higher returns on their deposits. However, customers should check the interest rates and terms and conditions before investing in an FD. With the RBI’s decision to raise the repo rate, banks are expected to continue increasing interest rates on FDs, providing customers with more options for higher returns on their investments.

RBI MPC minutes strike a decidedly dovish note, with economic growth now top priority in policy decisions, according to a UBI Report

The minutes of the Monetary Policy Committee (MPC) meeting, held on April 7-9, reflect a dovish tone, with growth taking center stage in the Reserve Bank of India’s (RBI) policy approach. The MPC appears more confident that inflation will move towards the 4% target, allowing it to shift focus towards supporting economic growth. The RBI’s decision to change its monetary policy stance to “accommodative” and cut interest rates by 25 basis points (bps) has been seen as a “double booster shot” for the economy. This combination implies that interest rates will likely remain low or may even decrease further, making borrowing cheaper and supporting economic activity.

All MPC members, except one, agreed on the rate cut and shift in stance. The accommodative stance signals that a rate hike is unlikely for now, and the RBI can still pause if economic conditions demand it. The downward revision in the RBI’s inflation forecast for FY26 by 20 bps has created additional room for monetary easing in the future. The RBI has projected India’s GDP growth at 6.5% for FY26, but Union Bank of India feels this is optimistic and pegs growth closer to 6.0%, citing weak capital expenditure sentiment and rising global uncertainties.

Looking ahead, the report expects the RBI to cut the repo rate by another 50 bps, bringing it down to a terminal rate of 5.5%. This projection is based on an assumption of a neutral real interest rate of 1.5%. The tone of the minutes and the Union Bank report suggests that the central bank is prioritizing growth as inflation risks appear to be easing. The RBI’s focus on growth is likely to continue, with the possibility of further rate cuts in the future. The accommodative stance and low interest rates are expected to support economic activity, making borrowing cheaper and boosting growth.

The shift in the RBI’s policy approach is significant, as it indicates a change in the central bank’s priorities. With inflation risks easing, the RBI is now focusing on supporting economic growth, which is likely to have a positive impact on the economy. The report’s expectations of further rate cuts and the RBI’s accommodative stance suggest that the central bank is committed to supporting growth and stimulating economic activity. Overall, the minutes of the MPC meeting and the Union Bank report suggest that the RBI is taking a dovish approach, prioritizing growth and seeking to support the economy through monetary policy.

WPI inflation may have softened to 2.1% in March as food and fuel prices fell: Union Bank Report

According to a report by Union Bank of India, wholesale price index (WPI) inflation is expected to ease to 2.1% year-on-year in March 2025, down from 2.4% in February. This moderation is mainly attributed to a seasonal decline in food prices, particularly in the vegetable segment, which dropped 4% month-on-month. However, not all food items followed the same trend, with edible oil and sugar prices rising by 1.3% and 1% respectively, which may push up prices of manufactured food products.

The report also noted that the fuel WPI is expected to decline in March due to a drop in global crude oil prices, contributing to the overall moderation in WPI inflation. However, core WPI, which excludes food and fuel, may see a slight uptick in March due to a spike in global metal prices caused by ongoing tariff wars and trade disruptions.

Despite the cooling in WPI, the report warns that global developments, including trade tensions, need to be closely monitored as they could impact global supply chains and future price trends. Additionally, food prices are expected to rise again from April onward due to seasonal factors, which may impact inflation going forward. Overall, while the WPI is expected to ease slightly in March, risks remain due to global metal price pressures and potential disruptions from trade-related tensions.

Union Bank inaugurates a new zonal office in Coimbatore, further expanding its regional presenceLet me know if you’d like me to suggest any further changes!

The Union Bank of India has opened a new zonal office in Coimbatore, Tamil Nadu. This move is a part of the bank’s expansion plan to increase its presence in the Southern region. The inauguration of the new zonal office was attended by Union Bank of India’s Managing Director and CEO, A Manimekhalai, who emphasized the bank’s commitment to providing quality customer service and recognizing the contributions of its field executives. The new zonal office is located at Sowripalayam Pirivu in Ramanathapuram, Coimbatore, designed to provide easier access to customers and improve service delivery.

With the establishment of this new zonal office, the bank now has a total of 22 zonal offices, 140 regional offices, and 8,619 branches across the country. This expansion is part of the bank’s ongoing efforts to strengthen its pan-India presence. The opening of the Coimbatore zonal office is a significant milestone in the bank’s journey to provide enhanced customer service and support to its customers in the Southern region.

The bank’s presence in Coimbatore will now be more accessible, with customers and business partners benefiting from improved services, products, and support. The new zonal office is expected to play a key role in providing support to businesses, farmers, and individuals, by offering a range of products and services, including loans, deposits, and other banking products.

Union Bank of India enables exceptional talent with disabilities to achieve a historic milestone by sending specially abled staff on the 2025 Mt. Everest Expedition.

The Union Bank of India has made a remarkable announcement by empowering its specially abled staff to participate in the Mt. Everest Expedition 2025. This initiative is a testament to the bank’s commitment to inclusivity and diversity, demonstrating its willingness to break barriers and provide opportunities to individuals with disabilities.

The bank has identified a group of specially abled employees who have been training rigorously to prepare themselves for the challenging expedition. The team of 10 mountaineers, hailing from various backgrounds, will be accompanied by experienced guides and trekking experts to ensure their safety and success.

The expedition has been carefully planned and prepared to provide a unique experience for the specially abled staff. The team will begin their journey from Tibet, undertaking a 12-day trek to the base camp of Mt. Everest. From there, they will make their ascent to the summit, a daunting task that requires exceptional physical and mental endurance.

Union Bank of India’s Managing Director and CEO, Shri Rajkiran Rai G., has expressed his excitement and support for the initiative, stating that the bank is committed to providing equal opportunities to all employees, regardless of their abilities. The bank believes that this expedition will not only push the limits of its employees but also promote a sense of camaraderie and teamwork among the specially abled community.

The expedition is expected to be a transformative experience for the participants, enabling them to build confidence and self-esteem while breaking down barriers and stereotypes. Thebank is also planning to document the journey, capturing the emotions, challenges, and triumphs of the specially abled staffers, to inspire others and promote inclusivity.

This remarkable initiative showcases the bank’s dedication to creating an inclusive work environment, acknowledging that disability is not inability. By empowering its specially abled staff, Union Bank of India sets an inspiring example for other organizations to follow, demonstrating that inclusivity is not only a moral responsibility but also a business necessity.

In conclusion, the Union Bank of India’s Mt. Everest Expedition 2025 is a remarkable feat that exemplifies the bank’s commitment to inclusivity, diversity, and employee empowerment. By providing opportunities to specially abled staff, the bank is not only breaking barriers but also promoting a culture of inclusivity, diversity, and acceptance.

India’s central bank is expected to slash the repo rate on April 9, potentially driving home loan rates down to record lows of under 8%.

The Reserve Bank of India (RBI) is set to announce its first monetary policy for the financial year 2025-26 on April 9, with markets and economists expecting a repo rate reduction of at least 25 basis points. This could lead to a decrease in home loan interest rates, making it an opportune time for those considering a new loan or refinance. Currently, public sector lenders such as Central Bank of India, Union Bank of India, and Punjab National Bank offer interest rates ranging from 8.1% to 8.15% per annum.

Private sector banks like HDFC, Axis, and ICICI Bank have already reduced their interest rates on fresh home loans by 5-10 basis points between January and April. According to RBI rules, banks are required to review interest rates at least once every quarter, and new borrowers may see their rates going down in the coming days.

A 25-basis point repo rate cut could mean home loan interest rates dipping below 8% per annum. For instance, a Rs 50-lakh home loan with a 20-year tenure would attract an EMI of Rs 42,106 with an interest rate of 7.9% per annum, compared to the current EMI of Rs 42,290.

The article provides a breakdown of the cheapest home loans offered by Indian banks, with Central Bank of India and Union Bank of India offering the lowest interest rates at 8.1% per annum. Other public sector banks, such as Bank of India, Indian Overseas Bank, and Punjab National Bank, offer interest rates ranging from 8.15% to 8.25% per annum.

Private sector lenders like HDFC Bank, Axis Bank, and ICICI Bank offer interest rates ranging from 8.25% to 8.75% per annum. Housing finance companies like LIC Housing Finance, Bajaj Finserv, and PNB Housing Finance also offer competitive interest rates, with rates starting at 8.2% to 8.6% per annum.

Hubballi’s Gateway: Union Bank of India’s Regional Office Unveiled with Fanfare

The Union Bank of India has inaugurated its new regional office in Hubballi, Karnataka, a significant milestone in strengthening its presence and enhancing customer service in the region. The inauguration ceremony, held on Monday, was attended by key officials, employees, and customers of the bank.

The new regional office, located on the III Floor of Centrum Building on Gokul Road in Hubballi, will be equipped with the latest technology and a dedicated team to provide seamless and personalized banking experiences to customers. The zonal head of the bank, Navneet Kumar, emphasized the importance of the Hubballi region for the bank’s growth, expressing confidence that the new Regional Office will play a pivotal role in expanding the bank’s reach and impact in the area.

Managing Director of Swarnaa Group of Companies, V.S.V. Prasad, congratulated the bank on the inauguration, lauding its contribution to the economic development of the region. Prasad emphasized the bank’s commitment to providing best-in-class banking services to the people of Hubballi.

Regional Head of the bank, K. Byre Gowda, presided over the program, reiterating the bank’s commitment to provide customers with a seamless and personalized banking experience. The event was attended by senior officials, employees, and customers of the bank, all of whom are looking forward to the new Regional Office’s impact on the region’s banking and economic landscape.

The inauguration of the new Regional Office marks a significant milestone for the Union Bank of India, strengthening its presence and enhancing customer service in the Hubballi region. The new office will be a hub for the bank’s activities in the region, providing customers with easy access to its services and facilities.

Breaking News: Union Bank of India Releases Admit Card for 2025 Written Examination – Get the Latest Updates and Details Now

The Union Bank of India (UBI) has invited online applications for the recruitment of 2691 apprentices under the Apprentices Act, 1961. The selected candidates will undergo a one-year apprenticeship training at various branches and offices of UBI. The online test for apprentices will be held on 23rd March 2025 and will be conducted in various cities across India. The exam will be held in English and Hindi, except for the English section.

The online applications were accepted from 19th February 2025 to 12th March 2025, and candidates can now download their admit cards from the official website. The admit cards will be available on the website from 18th March 2025, and candidates must download them online, as no hard copy will be sent by post.

The selection process will consist of the following stages: online test, test of local language, medical examination, document verification, and final selection. The online test will assess candidates’ knowledge in general awareness, English, reasoning, quantitative aptitude, and computer knowledge. The test will be an objective-type test with a total duration of 60 minutes and a maximum mark of 100.

To download the admit card, candidates can follow these steps: visit the official website, click on the “Careers” section, find the link for “UBI Apprentice Call Letter” and click on it, enter the registration number and password/date of birth, and click on the submit button. The admit card will be displayed on the screen, which can be downloaded and printed.

India’s exposure to US trade policies is relatively contained, but potential vulnerabilities still linger, according to the UBI Report.

A research report by the Union Bank of India suggests that India’s economy may be shielded from the full impact of US trade tensions due to its trade balance with the US. However, the final impact will depend on the contours of a trade deal between the two nations. The Indian Rupee has weakened by about 2% this year, despite the US dollar remaining weak. The Reserve Bank of India (RBI) has been working to combat the indirect impacts on liquidity and financial stability.

A slowdown in the global economy poses risks, but India may partially offset the impact through a weaker currency and lower oil prices. Higher tariffs on intermediate goods can increase production costs, leading to reduced profit margins for producers. India’s key exports, such as automobiles, gems and jewelry, steel, aluminum, pharmaceuticals, and textiles, are heavily dependent on the US market.

If US protectionist policies lead to retaliatory tariffs or import substitution measures from India, it could disrupt trade flows and impact businesses. Commodity-linked sectors, such as energy and metal producers, face unique challenges and opportunities due to global price fluctuations. Markets and investors remain cautious due to President Trump’s shifting stance on trade policies, which has created economic uncertainty.

Concerns over a potential US recession have resurfaced, with weaker consumer spending, declining business confidence, and unpredictable policy decisions affecting growth projections. The five-year breakeven inflation rate in the US has risen from 1.9% in September 2024 to 2.6% in February 2025, indicating higher inflation expectations. The report concludes that India’s policymakers must navigate these uncertainties to maintain stability and growth, while a trade deal with the US will be crucial in mitigating the impact of trade tensions.

Canara Bank achieves victory in the 2025 All India Public Sector Hockey Tournament

The 2025 All India Public Sector Hockey Tournament was held at the SAI hockey ground in Kolkata, and Canara Bank from Bengaluru emerged as the champions. They defeated Union Bank of India from Mumbai 4-2 in a penalty shootout after the match ended 3-3 in regular time. The winning score was 7-5 in favor of Canara Bank.

The championship was organized by Coal India Ltd, and the trophy was presented by former India Hockey captain and double Olympic bronze medalist P.R. Sreejesh and Vinay Ranjan, Director (P & IR) Coal India Limited. The event was attended by dignitaries including Ramesh Sachdeva, Consultant (AIPSSCB), Victor Anthony, Selector (AIPSSCB), Executive Director, General Managers, and HODs from CIL Headquarters.

In his address, Sreejesh congratulated the management of CIL for promoting hockey among public sector undertakings and advised the company to promote young talents in the field of sports. Dr. Vinay Ranjan emphasized the company’s commitment to promoting sports activities, including the Khelo India initiative, and mentioned that CIL has organized various sports events, including a marathon in Jharkhand and Odisha.

The final match was a high-scoring affair, with Union Bank of India dominating the game with their attacking prowess. Canara Bank fought back with timely counterattacks, and the match ended 3-3 after 60 minutes. The penalty shootout saw K.P. Dinesh, Yathish Kumar, G.N. Pruthviraj, and Likhith B.M. successfully convert for Canara Bank, while Darshil and Rahul C.J. scored for Union Bank of India. Jagdeep Dayal, the Canara Bank goalkeeper, was adjudged the best goalkeeper of the tournament.

The tournament also recognized individual performances, with awards for Best Goalkeeper (Jagdeep Dayal), Best Defender (Surender Kumar, FCI), Best Midfielder (Rahul Shinde, UBI), and Best Forward (Krishna Mohan, SAIL). Food Corporation of India secured third place, defeating SAIL 3-2.

Union Bank of India Spearheads Innovative Thinking and Design with Ease (IDEA) Hackathon, Kicking off a Series of Public Sector Banking (PSB) Hackathons in 2025

The Union Bank of India, in collaboration with K J Somaiya College of Engineering, Mumbai, successfully concluded the IDEA Hackathon, a flagship event under the PSBs Hackathon Series 2025. This event is part of a larger initiative by the Department of Financial Services, Ministry of Finance, Government of India and Indian Banks Association, where all Public Sector Banks will conduct a series of Hackathons. The event aimed to delve into innovative solutions for real-world problems and critical areas of operations in the BFSI sector.

The hackathon received a strong response from nearly 300 teams from over 30 colleges across Maharashtra, with 42 teams participating in the 24-hour hackathon. Out of these, six winning teams were announced, including an all-women team and a differently-abled team. The winning teams received cash prizes totaling Rs. 11 lakhs, with the first, second, third, and consolation winners receiving Rs. 5 lakhs, Rs. 3 lakhs, Rs. 2 lakhs, and Rs. 1 lac, respectively.

The event was attended by distinguished delegates and dignitaries from leading banks, financial institutions, fintech firms, and regulatory bodies, including the MD & CEO of NPCI, Mr. Dilip Asbe. Union Bank of India’s MD & CEO, A. Manimekhalai, was present at the event, praising the young minds for showcasing their innovative solutions.

The IDEA Hackathon is a testament to Union Bank of India’s commitment to innovation and digital transformation. The bank will continue to support and encourage innovative ideas, driving growth and excellence in the BFSI sector.

Senior Citizens’ FD Offer: Take advantage of 9.10% interest rates on Fixed Deposits from these top banks, find out more details here!

Fixed Deposits (FDs) have been a popular investment option in India for many years, particularly among senior citizens. This is because FDs are considered to be a safe and secure way to invest, with a high return on investment. Senior citizens can earn higher interest rates than normal citizens, typically around 0.5% more, making it an attractive option for those looking to generate a steady income post-retirement.

Banks and non-banking financial companies (NBFCs) offer FDs with interest rates ranging from 2.50% to 9.10% for a period of 7 days to 10 years. Many private banks offer interest rates up to 7%, while some NBFCs offer 9% interest on FDs. This makes FDs a lucrative option for those seeking a high return on investment.

Top banks and NBFCs in India offer FD rates as follows:

* Public Sector Banks: Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, State Bank of India, and Union Bank of India offer interest rates ranging from 7.75% to 7.95%.
* Private Sector Banks: Axis Bank, Bandhan Bank, DBS Bank, HDFC Bank, ICICI Bank, and Yes Bank offer interest rates ranging from 7.75% to 8.25%.
* Small Finance Banks: AU Small Finance Bank, Jan Small Finance Bank, North East Small Finance Bank, Unity Small Finance Bank, and Utkarsh Small Finance Bank offer interest rates ranging from 8.40% to 9.10%.

FDs provide several benefits to senior citizens, including the option to withdraw the full or partial amount before maturity, as well as the option to renew the FD once it matures. Additionally, the Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage up to Rs 5 lakh on deposits with participating banks. With a minimum investment requirement as low as Rs 100, FDs are an accessible and secure investment option for senior citizens.

According to the UBI report, India’s wholesale inflation is expected to have cooled to 2% in February, marking a slowdown.

According to a recent report by Union Bank of India (UBI), India’s wholesale price index (WPI) inflation is expected to have declined to 2% in February 2023, down from 2.3% in January. This moderation in WPI inflation is largely attributed to a sharp decrease in vegetable prices, which dropped by 12% month-on-month, and a seasonal decline in food prices. Edible oil prices experienced a slight increase, while manufactured food prices remained stable, with only modest price rises in key inputs like sugar and edible oil.

Another key factor contributing to the ease in WPI inflation is the decline in fuel prices, which is expected to remain in negative territory in February. This is due to reduced global oil demand, driven by economic concerns under the second term of US President Donald Trump. The core WPI, which excludes food and fuel, also showed signs of moderation in February, with lower global energy prices contributing to the decline. However, a surge in metal prices limited the extent of the decline.

Looking ahead, UBI expects WPI inflation to continue its downward trend, supported by softening global fuel and commodity prices, as well as seasonal declines in food prices. However, the report advises caution, as ongoing trade wars and disruptions in global supply chains could influence future price trends, which will be closely monitored in the coming months. Overall, this report provides a positive outlook on India’s WPI inflation, with a reduction in prices expected across various sectors.