Union Bank of Indian receives Rs 541 crore from Govt. of India

As capital infusion for FY 2017

Union Bank of Indian announced that the Bank has received a sum of Rs. 541 crore as capital infusion in the form of share application money from the Government of India for the said preferential allotment of Equity Shares on 31 March 2017. Allotment of the Equity Shares to Government of India will be done on receipt of approval of Central Government under section 3(2-B)(c) of the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970.

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