United Bank of India is likely to receive Rs 100-crore fund infusion via preferential issue of shares to the Government by the end of next month. The bank already got its board approval for preferential allotment of shares to the Government but it is subject to shareholders’ approval at an extra-ordinary general meeting.
State-owned bank had got Rs 172.80-crore capital infusion from the government, in the last year. Last month, the Government had approved capital infusion of Rs 12,517 crore in around 10 state-owned banks over the next three months.
