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United Bank of India gets capital infusion of Rs 418 crore

20 Mar 2017 Evaluate

United Bank of India has received a communication from the Central Government, on March 16, about capital allocation of Rs 418 crore, as a part of turnaround linked capital infusion plan. This proposal for allotment of equity shares of face value of Rs 10 each at a premium to the Central Government by way of preferential allotment will be placed before the board of directors at a meeting scheduled on March 27 in Kolkata.

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.

United Bank-Amalgama Share Price

8.02 0.00 (0.00%)
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