Union Bank of India is planning to consider and approve the proposal for creation, offering, issuance and allotment of equity shares of face value of Rs 10 each to the President of India acting on behalf of Government of India, for an amount aggregating up to Rs 2,839 crore by way of preferential allotment. The Board of Directors of the Bank at its meeting to be held on February 25, 2019 to consider 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.
