Latest news with #UnionBankofIndia
India Gazette
9 hours ago
- Business
- India Gazette
Dollar weakness not driven by changing interest rates, but because capital is moving away from US assets: Report
New Delhi [India], June 28 (ANI): The recent fall in the US dollar is no longer being driven only by changing expectations around interest rates. According to a report by Union Bank of India, the dollar's decline is now being supported by a more fundamental shift as global capital is moving away from US assets. The report stated, 'The dollar's weakness is no longer being driven solely by shifting rate expectations; it is now being reinforced by a decisive reallocation of global capital'. It also suggested that unless the US Federal Reserve re-establishes a clear lead in policy or US economic growth picks up speed, the report highlighted that this preference for non-US fixed income assets could continue to weigh on the dollar index (DXY) in the near term. The report also noted that a number of Federal Reserve officials have recently made dovish comments, meaning they are leaning towards keeping interest rates steady or even lowering them. This has added to the pressure on the dollar, encouraging investors to increase short positions, bets that the dollar will continue to fall. Earlier in the year, the dollar index had started slipping in late February, mainly due to weaker US economic data and a gradual reassessment of the Fed's interest rate path. However, at that time, the dollar was still seeing strong support from global capital flows. For example, four-week average inflows into US equity funds were around USD 6-7 billion in late February and rose to a peak of USD 9 billion by mid-April. US bond funds also saw consistent inflows of USD 7-9 billion during this period. As per report, this showed that the initial weakness in the dollar was more linked to interest rate expectations rather than any major shift in investor confidence. But that is changing now. With geopolitical tensions largely priced in, the future of the dollar is expected to be shaped more by domestic US factors. The report outlined that the dollar's direction now appears to be guided less by global interest rate trends and more by shifting capital flows and local US events. (ANI)
Mint
11 hours ago
- Business
- Mint
Dollar weakness not driven by changing interest rates, but because capital is moving away from US assets: Report
New Delhi [India], : The recent fall in the US dollar is no longer being driven only by changing expectations around interest rates. According to a report by Union Bank of India, the dollar's decline is now being supported by a more fundamental shift as global capital is moving away from US assets. The report stated, "The dollar's weakness is no longer being driven solely by shifting rate expectations; it is now being reinforced by a decisive reallocation of global capital". It also suggested that unless the US Federal Reserve re-establishes a clear lead in policy or US economic growth picks up speed, the report highlighted that this preference for non-US fixed income assets could continue to weigh on the dollar index in the near term. The report also noted that a number of Federal Reserve officials have recently made dovish comments, meaning they are leaning towards keeping interest rates steady or even lowering them. This has added to the pressure on the dollar, encouraging investors to increase short positions, bets that the dollar will continue to fall. Earlier in the year, the dollar index had started slipping in late February, mainly due to weaker US economic data and a gradual reassessment of the Fed's interest rate path. However, at that time, the dollar was still seeing strong support from global capital flows. For example, four-week average inflows into US equity funds were around USD 6-7 billion in late February and rose to a peak of USD 9 billion by mid-April. US bond funds also saw consistent inflows of USD 7-9 billion during this period. As per report, this showed that the initial weakness in the dollar was more linked to interest rate expectations rather than any major shift in investor confidence. But that is changing now. With geopolitical tensions largely priced in, the future of the dollar is expected to be shaped more by domestic US factors. The report outlined that the dollar's direction now appears to be guided less by global interest rate trends and more by shifting capital flows and local US events. This article was generated from an automated news agency feed without modifications to text.
News18
3 days ago
- Business
- News18
Union Bank of India To Raise Rs 6,000 Cr Via Equity And Debt, Shares In Focus
Last Updated: Union Bank of India plans to raise up to Rs 6,000 crore through equity and debt, with Rs 3,000 crore via equity and Rs 3,000 crore through debt, including AT1 and Tier 2 bonds. Union Bank of India to raise Rs 6000 via equity and debt. Union Bank of India Share Price: Shares of Union Bank of India are in the spotlight today, June 26, after the board approved a plan to raise up to Rs 6,000 crore through a mix of equity and debt instruments. The decision was made at the Board meeting on June 25, 2025. As per an exchange filing, the public sector lender will raise up to Rs 3,000 crore via equity capital in one or more tranches. This could be done through methods such as a Further Public Offer (FPO), Rights Issue, Qualified Institutions Placement (QIP), Preferential Allotment, or a combination of these. Shares of Union Bank of India settled 1.70 per cent lower on Wednesday to close at Rs 144.59 per share. The scrip opened at Rs 146.50 apiece. Additionally, the bank has received approval to raise up to Rs 3,000 crore through debt instruments. This includes Rs 2,000 crore via Basel III-compliant Additional Tier 1 (AT1) bonds and Rs 1,000 crore through Tier 2 bonds. The debt instruments may also be issued in foreign currency, according to the bank. Govt Cancels Bank's ED Appointment The Government has cancelled its order on the appointment of Pankaj Dwivedi as executive director (ED) of Union Bank of India and sent him back as General Manager (GM) of Punjab & Sind Bank. The government's decision came amid the pending case against Dwivedi in Delhi High Court. The court highlighted his appointment as ED of Union Bank of India, violating regulations due to the lack of vigilance clearance. Dwivedi had been ceased as ED of Union Bank of India with immediate effect. 'we wish to inform you that the Central Government vide notification no. 12/4/2024-BO.I dated June 24, 2025 has cancelled the appointment of Shri Pankaj Dwivedi as Executive Director of Union Bank of India and consequently he ceases to be the Executive Director of the Bank with immediate effect," Union Bank of India announced in the press release. First Published:
Business Standard
3 days ago
- Business
- Business Standard
Board of Union Bank of India approves to raise capital up to Rs 6,000 cr
At meeting held on 25 June 2025 The Board of Union Bank of India at its meeting held on 25 June 2025 has approved capital plan of the Bank to raise capital by an amount not exceeding Rs 6,000 crore, subject to: a) Raising of equity capital not exceeding Rs 3,000 crore in tranche(s) within the overall limit of Rs 6,000 crore, through Public Issue (i.e. Further Public Offer) and/or Rights Issue and/or Private Placements including Qualified Institutions Placements and/or Preferential Allotment or a combination(s) thereof to any eligible institutions and/or through any other mode(s) subject to the approval of Government of India, other regulatory authorities and approval of Shareholders of the Bank. b) Raising of Basel III compliant Additional Tier 1 (AT 1) Bonds not exceeding Rs 2,000 crore and Tier 2 Bonds not exceeding Rs 1,000 crore(including foreign currency denominated AT1/Tier 2 Bonds) within the overall limit of Rs 6,000 crore.
Hans India
3 days ago
- Business
- Hans India
Annual credit plan with Rs 21,262 cr released
Eluru: District collector K Vetriselvi released the annual credit plan for Eluru district for the financial year 2025-26 with an outlay of Rs 21,262 crore at the district level bankers' meeting at the Collectorate here on Tuesday. She said the annual credit plan for the year 2025-26 was Rs 3,000 crore more than the previous year. In the annual plan, Rs 18,243 crore was allocated for priority sectors. Out of this, Rs 8,396 crore was allocated for agricultural short-term loans, Rs 4,338 crore for agricultural term loans (agricultural allied sectors), Rs 1,111 crore for agricultural infrastructure, Rs 3,343 crore for micro, small and medium enterprises, and Rs 1,055 crore for other priority sectors. Last year, Rs 18,256 crore was allocated for other priority sectors. As against the target, Rs 21,816 crores, constituting 119 per cent of the target has been achieved. Bankers should work towards achieving 100 per cent of the targets set for the respective sectors. The Collector suggested that bankers should take the initiative in providing loans to tenant farmers in large quantities. Union Bank of India Regional Head N Srinivasa Rao, RBI AGM Abhishek Raj, LDM D Neeladri, NABARD DDM P Anil Kant, DRDA PD R Vijayaraju, SC Corporation ED M Mukkunti, ZP CEO Srihari, Animal Husbandry Department JD Govindarajulu, District Education Officer S Rammohan, District Agriculture Officer M Habib Basha, District Minority Welfare Officer NS Kripavaram, BC Corporation ED N Pushpalatha, district officers of various departments, district coordinators of various banks, and others were present.
