Union Bank of India is planning to raise capital funds. The Bank's Committee of Directors at its meeting to be held on October 14, 2019 to consider the same. The bank is seeking approval for the issue price of new equity shares proposed to be issued to the Government of India on Preferential Basis.
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.