United Bank of India is planning to raise equity capital for an amount not exceeding Rs 3,000 crore by way of preferential allotment of equity shares. The Board of Directors of the bank at its meeting to be held on December 14, 2018 to consider the same.
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.
