Union Bank of India

BSE: 532477
  • Union Bank of India Ltd. was revealed to have facilitated a fund transfer of $100 million between Mangalore Refinery & Petrochemicals Ltd. and the National Iranian Oil Company. This fund transfer was a multi-step process coordinated with the Turkish bank Halkbank and was designed specifically to evade international sanctions.
  • Has relationships with 'deficient' Iranian banks ("Iran's Dirty Banking", Avi Jorisch)