United Bank of India has received Securities and Exchange Board of India’s (SEBI’s) approval to raise capital for issue of equity shares aggregating to Rs 1000 crore by way of Qualified Institutions Placement (QIP) on November 20, 2017.
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.
