Union Bank of India is going to seek shareholders’ approval for raising up to Rs 6,800 crore equity capital. The extraordinary general meeting (EGM) will be held on December 30, 2020 through video conferencing or other audio visual means to obtain shareholders’ approval for raising of equity capital up to Rs 6,800 crore during the FY2020-21 by way of various modes such as public issue, rights issue, or private placement including Qualified Institutions Placement or preferential allotment to the government.
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.
