The Government of India (GoI) has decided to infuse capital funds to the tune of Rs 480 crore in United Bank of India by way of preferential allotment of equity in favour of GoI. The bank is taking the necessary step in this regards.
United Bank of India is one of the 14 major banks which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.
