United Bank of India to get Rs 480 crore capital infusion from GoI

By way of preferential allotment of equity to GoI

United Bank of India announced that the Ministry of Finance vide its letter dated 28 March 2016 has conveyed that the Government of India has decided to infuse capital funds to the tune of Rs. 480 crore (Rupees Four Hundred and Eighty Crore) in the Bank by way of preferential allotment of equity in favour of the Government of India.

Further, as advised by the Government of India, the Bank is initiating necessary steps in this regard.

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