United Bank of India has received Rs 1,666 crore Capital Infusion from Central Government. The Government has conveyed the sanction of the President of India for release of Rs 1,666 crore towards contribution of the Central Government in the Preferential Allotment of equity shares (Special Securities/Bonds) of the Bank during the financial year 2019-20 as Government's investment in the Bank.
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.
