United Bank of India’s Board of directors has approved by circulation for raising Tier-I capital up to Rs 1000 crore. The funds will be raised by Issuance of Unsecured Perpetual Basel- III compliant Additional Tier 1 Bonds in the form of Promissory Notes of Rs 10.00 lakh each on private placement basis to the eligible institutions for inclusion in Tier-1 Capital in one or more tranches.
Last year in December, the bank had opened 50 branches in Assam. The branches were inaugurated by Chief Minister Tarun Gogoi. With this, the bank now has 244 branches in the Assam.
