You are here: Home » Finance » News » Banks
Deepak Parekh resigns as non-executive chairman of HDFC Ergo
RBI cancels licence of Sarjeraodada Naik Shirala Sahakari Bank, Sangli
Business Standard

Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds

The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore

Topics
Union Bank | Bonds | Basel III

Press Trust of India  |  New Delhi 



Union Bank of India
Union Bank of India

has raised Rs 1,500 crore by issuing compliant to investors.

The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up compliant additional tier-I in the nature of debentures, aggregating to Rs 1,500 crore.

The are eligible for inclusion in the tier-I capital of the bank.

To comply with Basel-III capital regulations, globally need to improve and strengthen their capital planning processes.

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of .

Tier-I capital is the core capital of a bank's reserves and it is primarily used to fund business activities. are required to hold certain levels of tier 1 and tier 2 capital as reserves so that they can absorb large losses without threatening their stability.

Shares of of India closed at Rs 41 apiece on BSE, up 1.99 per cent from the previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Wed, March 02 2022. 18:26 IST

RECOMMENDED FOR YOU

.