Union Bank of India’s board of directors has approved capital plan of the Bank to raise capital by an amount not exceeding Rs 6,000 crore. The board has approved raising of equity capital not exceeding Rs 3,000 crore in tranche(s) within the overall limit of Rs 6,000 crore, through Public Issue (i.e. Further Public Offer) and/or Rights Issue and/or Private Placements including Qualified Institutions Placements and/or Preferential Allotment or a combination(s) thereof to any eligible institutions and/or through any other mode(s) subject to the approval of Government of India, other regulatory authorities and approval of Shareholders of the Bank.
Further, the board has also approved raising of Basel III compliant Additional Tier 1 (AT 1) Bonds not exceeding Rs 2,000 crore and Tier 2 Bonds not exceeding Rs 1,000 crore (including foreign currency denominated AT1/Tier 2 Bonds) within the overall limit of Rs 6,000 crore. The Board of Directors in its meeting held on June 25, 2025 has considered & 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.
