Union Bank of India’s (UBI) board has approved raising of funds for an amount not exceeding Rs 1,750 crore through the issue of equity shares through qualified institutions placement (QIP). The committee of the directors of the bank at its meeting held on May 17, 2021, has approved 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.
