UNION BANK OF INDIA

The Reserve Bank of India has imposed a penalty of ₹1,28,750 on Union Bank of India for violations including detection of counterfeit and mutilated currency notes, and shortage in currency chest balances. The bank stated that the impact is not significant and has implemented preventive measures to avoid recurrence.

Union Bank of India has exercised the call option for its bond with ISIN INE692A08144. The redemption payment, including principal and coupon amount, is scheduled for June 24, 2026. The bond series is XXX, with an issue size of ₹850 Crores and a coupon rate of 7.19%. The record date for the redemption is June 9, 2026.

Union Bank of India announced the book closure for its 24th Annual General Meeting (AGM) and the record date for dividend eligibility. The AGM will be held on July 10, 2026, via video conferencing. The book closure period is from July 4, 2026, to July 10, 2026. The record date for e-voting and dividend is July 3, 2026. Remote e-voting will be open from July 7, 2026, to July 9, 2026.

Union Bank of India will hold its 24th Annual General Meeting (AGM) on July 10, 2026, via video conferencing. The record date for e-voting and dividend is July 3, 2026. The book closure period is from July 4, 2026, to July 10, 2026. Remote e-voting will be available from July 7, 2026, to July 9, 2026. The Annual Report for FY 2025-26 and AGM notice will be submitted to the exchanges.

Union Bank of India's Board of Directors approved a capital plan to raise up to ₹8,000 crore. This includes raising equity capital not exceeding ₹3,000 crore through various methods like public issue, rights issue, or private placements, subject to regulatory and shareholder approvals. Additionally, the plan includes raising up to ₹5,000 crore through Basel III compliant Additional Tier 1 and/or Tier 2 bonds, potentially including foreign currency denominated bonds. The board meeting concluded on May 26, 2026.

Union Bank of India's Board of Directors approved a capital plan to raise up to ₹8,000 crore. This includes raising equity capital not exceeding ₹3,000 crore through various methods like public issue, rights issue, or private placements, subject to regulatory and shareholder approvals. Additionally, the plan includes raising Basel III compliant Additional Tier 1 Bonds and/or Tier 2 bonds not exceeding ₹5,000 crore, potentially including foreign currency denominated bonds, within the overall ₹8,000 crore limit. The board meeting was held on May 26, 2026, from 11:00 A.M. to 2:00 P.M.

Union Bank of India has scheduled a board meeting on May 26, 2026, to consider and approve a capital plan. The plan includes raising equity capital through various methods such as public issue (Further Public Offer), rights issue, private placements (including Qualified Institutions Placement), Employee Stock Purchase Scheme (ESPS), preferential allotment, or a combination thereof. The board will also consider issuing Basel III compliant Additional Tier 1 Bonds & Tier 2 Bonds, including foreign currency denominated bonds, through private placements, subject to regulatory approvals.

Union Bank of India has appointed Smt. Sowmya Sridhar as the new Chief Risk Officer (CRO), effective May 22, 2026, for a tenure up to August 31, 2029. She replaces Shri Ashwini Kumar Ramakrishna Chowdhary, whose contractual tenure ends on May 21, 2026. Smt. Sridhar, a General Manager with over 30 years of experience in banking, including 19 years in risk management, is a certified FRM from GARP. She has experience in credit, finance, accounts, and compliance.

Union Bank of India announced the appointment of Dr. Debasish Prusty as the Government Nominee Director, effective May 13, 2026. This appointment, made by the Central Government, is until further orders and replaces Shri Rohan Chand Thakur. Dr. Prusty, an Additional Secretary in the Ministry of Finance, brings over 26 years of experience in public finance and sustainable development. He has no relationship with existing directors and is not debarred from holding office.

Union Bank of India has invested an additional ₹22.64 Crores in ASREC (I) Ltd., a joint venture company. This investment has increased the bank's shareholding in ASREC (I) Ltd. from 26.02% to 27.30%. The disclosure is in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.