Union Bank of India reported disappointing second quarter results, with net profits falling 40% year-over-year to Rs 304 crore. While the bank set aside more funds for rising bad loans, it said bad loans may increase at a slower pace. Canara Bank saw its stock reach an all-time high after reporting a 10% rise in second quarter net profits to Rs 1,007.8 crore. An agreement at the G20 summit increased US stock indexes as countries pledged to avoid a currency war and home sales strengthened. The State Bank of India increased its base rate by 0.1% to 8.6% and its benchmark prime lending rate by 0.25% to 12.5%, effective July 1,