UNIONBANK

Updates throughout

April 2 (Reuters) - India's bank stocks dropped to their lowest levels in nearly a year on concerns over potential losses after the central bank intensified its crackdown on speculative activity in the rupee.

The Nifty Bank index .NSEBANK slid as much as 2.8% to 50,004.30 points - its lowest level since April 9, 2025 - with all constituents trading lower.

The index has fallen 4.3% this week following the Reserve Bank of India's curbs, underperforming the benchmark Nifty 50 .NSEI, which is down 2.6%.

On Wednesday, the RBI barred banks from offering rupee non-deliverable forwards to resident and non-resident clients, days after it put a limit of $100 million on banks' net open rupee positions.

Jefferies said banks were hoping to mitigate losses stemming from the initial measures by transferring or selling part of their positions to corporates, hedge funds and other clients.

The fresh curbs may bring the losses back to original estimates or a tad higher at 40 billion rupees to 50 billion rupees ($428.05 million-$535.07 million), the brokerage said.

The RBI's measures come as the rupee INR=IN has hit a string of all-time lows on worries over spillovers from the Iran war. The currency fell 4.24% in March, its worst monthly drop in six years, before the latest curbs helped it rise 1.4% to 93.53 per U.S. dollar in early trade on Thursday.

Private lenders HDFC Bank HDBK.NS and ICICI Bank ICBK.NS dropped 1.4% each on Thursday, while state-run banks logged sharper losses. State Bank of India SBI.NS was down 2.9%, while Punjab National Bank PNBK.NS, Canara Bank CNBK.NS and Union Bank of India UNBK.NS lost 3.4%, 3.6% and 3.9%, respectively.

Jefferies expects banks to book part of their losses in the January-March and April-June quarters, and said foreign lenders account for 45% of the currency derivatives market and related losses, while private banks have a 40% share.

($1 = 93.4460 Indian rupees)

(Reporting by Vivek Kumar M in Bengaluru and Ashwin Manikandan in Mumbai; Editing by Sonia Cheema)

((VivekKumar.M@thomsonreuters.com;))

March 27 (Reuters) -

• RBI: IMPOSED MONETARY PENALTY OF 9.5 MILLION RUPEES ON UNION BANK OF INDIA

Further company coverage: UNBK.NS

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March 20 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA - RECEIVES 93.80 BILLION RUPEES BIDS IN RESPONSE FROM QUALIFIED INSTITUTIONAL BUYERS

• UNION BANK OF INDIA - ACCEPTS 30 BILLION RUPEES BIDS FOR BONDS AT 7.16% COUPON RATE

Source text: ID:nNSE1jgl6s

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;))

MUMBAI, March 18 (Reuters) - Union Bank of India UNBK.NS is planning to raise 75 billion rupees ($812.30 million), including a greenshoe option of 45 billion rupees, through sale of first infrastructure bond issue with a 10-year maturity, three merchant bankers said on Wednesday.

The state-run lender has invited coupon and commitment bids from bankers and investors on Friday.

Here is the list of deals reported so far on March 18:

* Size includes base plus greenshoe for some issues

($1 = 92.3300 Indian rupees)

(Reporting by Dharamraj Dhutia)

((Dharamraj.dhutia@tr.com))

March 16 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA - TO ISSUE LONG-TERM BONDS UP TO 200 BILLION RUPEES FOR INFRASTRUCTURE AND AFFORDABLE HOUSING

• UNION BANK OF INDIA - TO ISSUE GREEN/SUSTAINABLE BONDS UP TO 50 BILLION RUPEES IN TRANCHES

• UNION BANK OF INDIA - MAY RAISE 75 BILLION RUPEES WITH 10-YEAR TENOR BEFORE MARCH 31, 2026

Source text: ID:nNSE3p8g85

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;))

March 12 (Reuters) - India's financial crimes agency has frozen 5.82 billion rupees ($63.07 million) worth of properties linked to Reliance Home Finance Limited RLIC.NS and Reliance Commercial Finance, the Enforcement Directorate said on Thursday.

• The move followed search operations conducted on March 6 in the case of Reliance Power Limited RPOL.NS under the foreign-exchange regulation law.

• With this, the cumulative Reliance Anil Ambani Group attachment has reached 163.10 bln rupees.

• ED said it began the probe on July 22, 2025 based on multiple FIRs from the Central Bureau of Investigation involving cheating and criminal conspiracy, following complaints by Yes Bank YESB.NS, Union Bank of India UNBK.NS and Bank of Maharashtra BMBK.NS.

• The agency said Reliance Home Finance and Reliance Commercial Finance raised over 110 billion rupees in public funds from banks.

• It found public funds were diverted to various Reliance Group companies through numerous shell entities controlled by the Anil Ambani-led group.

• ED said it is pursuing those involved and working towards recovering the diverted funds for rightful claimants and further investigation is ongoing.

• A query sent to Anil Ambani's Reliance group was not immediately answered.

($1 = 92.2770 Indian rupees)

(Reporting by Nikunj Ohri and Meenakshi Maidas in Bengaluru; Editing by Krishna Chandra Eluri)

((Meenakshi.Maidas@thomsonreuters.com; +91 8921483410;))

Feb 25 (Reuters) -

• FITCH: AFFIRMS UNION BANK OF INDIA AT 'BBB‐'/STABLE; UPGRADES VIABILITY RATING TO 'BB'

Further company coverage: UNBK.NS

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Feb 11 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA - AIBEA AND BEFI SERVED NOTICE OF ONE DAY STRIKE ON 12TH FEBRUARY

Source text: ID:nBSEbB1HsD

Further company coverage: UNBK.NS

((reuters.briefs@thomsonreuters.com;))

Jan 29 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA - DHIRENDRA JAIN HAS BEEN APPOINTED AS CFO

Source text: ID:nNSE36gC5T

Further company coverage: UNBK.NS

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Jan 14 (Reuters) - Union Bank of India Ltd UNBK.NS:

• Q3 NIM AT 2.76%

Source text: ID:nnAZN4RYHRE

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;))

** Union Bank of India UNBK.NS climbs 2.7% to 166.70 rupees; top gainer among state-owned banks .NIFTYPSU

** Stock gained 6.3% across two sessions after reporting healthy loans, deposit growth for quarter ending December 31

** Nifty PSU Bank .NIFTYPSU index up 1%

** Stock rated "buy" on average, same as state-owned peers, per data compiled by LSEG

** UNBK rose ~28% in 2025, but trailed NIFTYPSU's 30% climb

(Reporting by Nandan Mandayam in Bengaluru)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))

Jan 2 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA - TOTAL GROSS ADVANCES GLOBAL GREW 7.13% YOY AS OF DECEMBER 31

• UNION BANK OF INDIA - DEPOSITS (GLOBAL) GREW 3.36% YOY AS OF DEC 31

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;))

By Dharamraj Dhutia

MUMBAI, Oct 3 (Reuters) - At least four major state-owned Indian banks have increased their internal limits for investing in state bonds following discussions with the Reserve Bank of India last month, according to five treasury officials aware of the decisions.

Bank of Baroda BOB.NS, Punjab National Bank PNBK.NS, Canara Bank CNBK.NS and Union Bank of India UNBK.NS - among India's top five government-owned lenders by assets - have raised their investment caps by 5 to 20 percentage points, the sources said.

"Most of the top five-six banks barring one have raised the internal cap that they had set for taking exposure to state debt in treasury books after a round of consultations and meetings with the central bank," one of the officials said.

The sources requested anonymity as they are not authorised to speak to media. The banks did not respond to emailed queries.

Indian banks, including both private and public sector entities, are significant buyers of state-issued bonds, collectively holding nearly 36% of states' debt as of June, according to regulatory data.

BORROWING COST RELIEF

Indian states are projected to raise a record 12 trillion rupees ($135.2 billion) through bond issuances in the current financial year, with 7 trillion rupees expected between October and March.

Reduced buying by banks, insurers, and pension funds had driven yields on state bonds higher by 40 to 70 basis points during the three months ending September, with several auctions undersubscribed.

Market participants now anticipate improved bank participation at auctions, which could ease yields. Banks had also sought changes to the auction process to mitigate mark-to-market losses on their portfolios.

($1 = 88.7600 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

((Dharamraj.Dhutia@thomsonreuters.com;))

Sept 30 (Reuters) - Union Bank of India Ltd UNBK.NS:

• INDIAN GOVERNMENT APPROVES APPOINTMENT OF ASHEESH PANDEY AS UNION BANK OF INDIA MD & CEO FOR 3 YEARS - NOTIFICATION

Further company coverage: UNBK.NS

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Sept 26 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA - RESERVE BANK OF INDIA IMPOSED PENALTY OF 102,950 RUPEES ON BANK

Source text: ID:nnAZN4KUQ3W

Further company coverage: UNBK.NS

((reuters.briefs@thomsonreuters.com;))

Aug 18 (Reuters) - Mahanagar Telephone Nigam Ltd MTNL.NS:

• DEFAULT IN PAYMENT OF PRINCIPAL & INTEREST OF BANKS BY MTNL

• PRINCIPAL OVERDUE AT 18.73 BILLION RUPEES, INTEREST OVERDUE AT 8.65 BILLION RUPEES

• TOTAL OUTSTANDING BORROWINGS FROM BANKS, FINANCIAL INSTITUTIONS AT 86.59 BILLION RUPEES

Source text: ID:nBSE9yF4FP

Further company coverage: MTNL.NS

((Reuters.Briefs@thomsonreuters.com;;))

By Ashwin Manikandan

July 18 (Reuters) - India's central bank is close to finalising rules for banks and financial institutions to disclose and manage risks from climate change, three sources aware of the matter said.

The move runs counter to several top global banks including JP Morgan, Citibank, Morgan Stanley and HSBC, which have decided to scale back their climate commitments with the re-election of climate-sceptic U.S. President Donald Trump being seen as a trigger.

Getting a better idea of how, and to what extent, money is flowing to green investments is a central part of global efforts to move to a low-carbon economy, with countries from the UK to Japan making such disclosures mandatory.

The Indian central bank's norms, which have been in the works since 2022, are expected to ask banks and financial institutions to make regular disclosures about climate-related risks in their loan portfolios along with mitigation strategies and targets, the sources said.

The disclosures are likely to be on a voluntary basis from fiscal year 2027 and then mandatory from fiscal year 2028. India's financial year runs from April till March.

Banks will also be asked to conduct periodic stress tests to gauge the impact of adverse climate events such as floods, heatwaves and cyclones on borrowers and the economy, based on a guidance note which the central bank is also likely to issue soon, the sources added.

All three sources requested anonymity as they are not authorised to speak with media.

The RBI did not respond to an email from Reuters.

The central bank's decision to move forward with the rules has not been previously reported.

The Reserve Bank of India has previously recognised climate change as a source of major financial concern, and released a draft standard disclosure framework in February 2024 for public feedback.

“The signal from the central bank based on recent meetings is that the detailed norms are almost finalised and are expected very soon,” the first source said.

Many banks have already started collating data and setting targets to meet the disclosure standards, the source said.

Some large banks have put out tenders to bring in climate consultants to help them with the disclosures, according to public documents.

ASSESSING BORROWERS FOR CLIMATE RISK

The RBI's decision to move ahead with climate disclosures for its banks comes soon after India released a draft framework aimed at facilitating a greater flow of resources to climate-friendly sectors.

India is also gearing up to publish a new national emissions-reduction target ahead of the next round of global climate talks in Brazil in November.

India, the world's third largest polluter behind China and the United States, currently aims to achieve a net zero emissions target by 2070.

As part of the central bank's climate disclosure rules, banks will be required to calculate gross emissions of borrowers and disclose this information by asset classes and industries, according to the draft norms.

Such disclosures are expected to be included in their financial statements.

Separately, the central bank has also shared a 52-page draft note with large banks, a copy of which Reuters has reviewed, prescribing a methodology to forecast and analyse the impact of adverse climate events as well as transition risks on borrowers' ability to repay loans.

The transition risks are those which emerge from the changing consumer behaviour, policy and technology changes, as the world moves towards a low-carbon economy, as per the note.

While banks are preparing to disclose climate risk embedded in their loan portfolios, they do not expect these disclosures to impact loan pricing in the short term.

"As of now we don't have enough granular data to reliably price in these risks in our portfolios, but the long-term approach could be in that direction," said the second source, who is a banker at a state-owned lender.

(Reporting by Ashwin Manikandan; Editing by Ira Dugal and Kim Coghill)

((Ashwin.Manikandan@thomsonreuters.com;))

BENGALURU, July 15 (Reuters) - India's Mahanagar Telephone Nigam MTNL.NS has defaulted on loans totaling 85.85 billion rupees ($1 billion), the public-sector telecom firm said on Tuesday.

The loans were made by seven public sector, with Union Bank of India UNBK.NS and Indian Overseas Bank IOBK.NS having the biggest exposure, MTNL said in an exchange filing.

($1 = 85.8860 Indian rupees)

(Reporting by Nishit Navin; Editing by Anil D'Silva)

((Nishit.Navin@thomsonreuters.com;))

** Union Bank of India UNBK.NS slips 4.5% to 143.51 rupees, on course for third consecutive session of losses

** Lender's domestic deposits up 3.6% y/y in Q1, while domestic advances up 6.8%

** SBICAPS Securities says lender's business update was weak and showed signs of slowdown in credit growth, inline with other peers in the industry

** YTD, UNBK up 19%, compared to 8.6% gains in Nifty PSU Bank index NIFTYPSU

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))

July 8 (Reuters) - Union Bank of India Ltd UNBK.NS:

• DOMESTIC RETAIL ADVANCES GREW BY 25.6% Y/Y AS OF JUNE 30

• DOMESTIC DEPOSITS GREW 3.62% Y/Y AS OF JUNE 30

Source text: ID:nNSEc8ld16

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;;))

May 8 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA Q4 NET PROFIT 49.85 BILLION RUPEES

• UNION BANK OF INDIA Q4 GROSS NPA 3.6%

• UNION BANK OF INDIA Q4 INTEREST EARNED 276.95 BILLION RUPEES

• UNION BANK OF INDIA Q4 PROVISIONS AND CONTINGENCIES 15.44 BILLION RUPEES

Source text: [ID:]

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;))

April 22 (Reuters) - Union Bank of India Ltd UNBK.NS:

• RBI IMPOSES PENALTY OF 120,000 RUPEES ON UNION BANK

Source text: ID:nNSE1fbglj

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;;))

April 16 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA - FINANCIAL INTELLIGENCE UNIT-INDIA IMPOSED A PENALTY OF 3.7 MILLION RUPEES ON CO

Source text: ID:nBSE5zkZB5

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of Australian fintech firm Findi Ltd FND.AX rise 8.2% to A$4.760

** FND says it secured a 7-year contract with Union Bank of India UNBK.NS to deploy additional 900 ATMs across India

** Contract expected to deliver between A$75 million ($47.12 million) and A$80 million in revenue during its term

** Full deployment of ATMs will contribute an additional A$10 million-A$11 million of annualised revenue

** FND down 4% this year, including the day's moves

($1 = 1.5918 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com))

Jan 29 (Reuters) - Union Bank of India Ltd UNBK.NS:

• TO RAISE LONG TERM BONDS UP TO 200 BILLION RUPEES

• TO ISSUE GREEN/SUSTAINABLE BONDS UP TO 50 BILLION RUPEES

Source text: ID:nNSE1yz4Mg

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of Union Bank of India UNBK.NS rise as much as 7.2% to 113.14 rupees

** Lender reports 28.2% rise in Q3 net profit; gross non-performing assets ratio improves to 3.85% from 4.36% in Q2

** UNBK among top two gainers in Nifty PSU bank index .NIFTYPSU after RBI announced host of measures to inject liquidity into banking system on Monday

** Banking .NSEBANK, finance .NIFTYFIN and PSU bank indexes rise over 2% each

** Avg rating of 10 analysts equivalent of "strong buy", median PT is 149.50 rupees - LSEG data

** Stock rose 1.1% in 2024

($1 = 86.5150 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

((ashish.chandra@thomsonreuters.com (+91 7982114624))

Jan 27 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA DEC-QUARTER NET PROFIT 46.04 BILLION RUPEES

• UNION BANK OF INDIA Q3 GROSS NPA 3.85%

• UNION BANK OF INDIA Q3 INTEREST EARNED 269.58 BILLION RUPEES

• UNION BANK OF INDIA Q3 PROVISIONS AND CONTINGENCIES 15.99 BILLION RUPEES

Source text: [ID:]

Further company coverage: UNBK.NS

((Reuters.Briefs@thomsonreuters.com;;))

** Shares of Union Bank of India UNBK.NS fall as much as 7.5% to 114.8 rupees, before trimming some losses to trade down 6.7%

** UNBK is the top percentage loser on Nifty Public Sector Bank index .NIFTYPSU

** Co on Saturday said its total business and total deposits fell 0.24% and 2.04% q/q, respectively, as of Dec. 31

** Year-on-year, the two metrics grew 4.7% and 3.8%, respectively

** Stock below its 50-day, 100-day simple moving avgs

** ~31 mln shares traded, 2.6x its 30-day moving avg

** Avg rating of 10 analysts covering the stock is "strong buy" - data compiled by LSEG

** UNBK down 3.6% YTD, after gaining 1.1% in 2024

(Reporting by Anuran Sadhu in Bengaluru)

((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))

Moves position of 'to India' in paragraph 7, no other changes

By Rishika Sadam and Siddhi Nayak

Nov 28 (Reuters) - Indian banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday, after the group's billionaire founder Gautam Adani was indicted by U.S. authorities over an alleged $265 million bribery scheme.

Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it.

State Bank of India SBI.NS will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met.

Bank of India BOI.NS, Union Bank UNBK.NS, ICICI Bank ICBK.NS, Canara Bank CNBK.NS, IDBI Bank IDBI.NS and RBL Bank RATB.NS, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said.

A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern.

Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the U.S. allegations were not "problematic" from its perspective.

"We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview.

The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors.

Adani and seven others are accused by U.S. authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations.

The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding IHC.AD, which maintained its outlook on investments in the group.

"Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments".

IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises ADEL.NS flagship to more than 5% last year after selling down investments in Adani Green Energy ADNA.NS and Adani Energy Solutions ADAI.NS.

Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%.

The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the U.S. indictments.

FALLOUT

Global investors say worries of a wider spillover from the Adani allegations will hurt sentiment in India, but not the long-term outlook, as they wager one of the world's best-performing markets will get back on track next year.

Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place - for exposure to a growing economy and a huge consumer market.

Indian Prime Minister Narendra Modi's government has not commented on the allegations against the Adani Group and has blocked opposition party demands for a debate on them.

Both houses of India's parliament were suspended temporarily within minutes of opening on Thursday as opposition lawmakers disrupted proceedings for the third day over the issue.

Many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Gautam Adani and blocking investigations against him, charges which both have denied.

The Adani Group, which is among India's biggest business empires, has been under scrutiny since January 2023 short seller Hindenburg Research accused it of stock manipulation, which the group has denied, and questioned its high debt levels.

Adani Green said on Wednesday that Adani had been charged by U.S. Securities and Exchange Commission (SEC) for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.

The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.

Repercussions from the indictment have mounted for the Adani Group over the past week, with credit ratings agencies cutting the outlook for some of the listed companies' bonds.

French oil major TotalEnergies TTEF.PA, said on Monday it would not make any more investments in the Adani Group until there was clarity over the allegations and consequences. Total has a 20% stake in Adani Green.

Kenya has scrapped a $2 billion procurement project that was to give Adani control of the country's main airport and it shelved a 30-year, $736-million public-private partnership, signed by Adani Energy with its energy ministry in October.

Closer to home, Sri Lanka said it would investigate all Adani-related projects in the island nation, while Bangladesh is investigating power generation contracts signed under the previous prime minister, one of which was with Adani Power.

(Reporting by Hadeel Al Sayegh in Dubai, Shilpa Jamkhandikar in Mumbai and Nigam Prusty in New Delhi; Writing by Scott Murdoch, Chris Thomas; Editing by Alexander Smith)

((sumeet.chatterjee@thomsonreuters.com; +852 3462 7757;))

Oct 22 (Reuters) - Union Bank of India Ltd UNBK.NS:

• UNION BANK OF INDIA EXEC: STRATEGICALLY NOT TAKING ON LOW-YIELDING CORPORATE LOANS TO PRESERVE NET INTEREST MARGINS

• UNION BANK OF INDIA EXEC: HAVE SMALL EXPOSURE WITH 2 OF 4 NBFCS UNDER RBI’S LATEST RESTRICTIONS; THEY HAVE DRAWN DOWN ALL CREDIT LINES

Source text for Eikon: [ID:]

Further company coverage: UNBK.NS

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