Union Bank of India has received an approval for issue and allotment of new equity shares on preferential basis to the Government of India (GoI), for an amount aggregating up to Rs 4524 crore (including premium). The Committee of Directors for Raising of Capital Funds at its meeting held on February 07, 2018, has approved the same.
Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.
