United Bank of India has received its board’s approval to raise up to Rs 300 crore through a rights issue. The company’s board, on November 22, 201, has approved to create, issue and allot up to such numbers of shares of Rs 10 each at a premium to be decided subsequently on rights basis to the existing shareholders of the bank as on the record date to be fixed subsequently.
The bank has emerged as a strong and efficient banking organisation over the years and plays an integral role in the socio-economic development of the Eastern and North-Eastern States of the country. The bank at present has a strong presence with its total 1678 branches and 800 ATMs spread across the country.
