The Exchange has sought clarification from Union Bank of India with respect to recent news item captioned Union Bank faces heat over ?7.25 crore book purchase. The response from the Company is attached.
UNIONBANK · price
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Union Bank of India responded to NSE's query about a news article that flagged a ₹7.25 crore book purchase. The Bank confirmed that it did make the procurement but admitted there were certain lapses, which are being examined internally. The Bank clarified that this matter does not qualify as a material event under SEBI's listing rules and does not have any material impact on its operations or financials at this stage. It also stated there are no undisclosed price-sensitive details and no regulatory or legal proceedings arising from this matter.
This is a routine clarification rather than a negative trigger for shareholders. The acknowledged procurement lapses are minor and under internal review, with no financial or operational impact reported, so the stock price is unlikely to be materially affected.