Union Bank of India has received approval for the raising of funds for an amount not exceeding Rs 5000 crore through issue of equity shares through Qualified Institutions Placement (QIP) subject to the requisite regulatory /statutory approvals, as applicable. The Committee of Directors for Raising Capital Funds (Committee) at its meeting held on August 21, 2023, 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.
