Categories: Business

Union Bank plans Rs 8,000 crore fund raise, board clears Rs 3,000 crore equity issue

Union Bank of India has greenlit a substantial capital raise, aiming to secure up to Rs 8,000 crore. This strategic move involves issuing debt instruments, including Basel III-compliant bonds, to the tune of Rs 5,000 crore. Additionally, the bank plans to bolster its equity by Rs 3,000 crore through various public and private offerings.

The News Vista

Share
Published by
The News Vista

Recent Posts

August rainfall fails to reduce India’s monsoon deficit

India's cumulative monsoon rainfall deficit remains despite August's better-than-expected rains. This deficit has caused a…

2 hours ago

FSSAI bans Everest, LG from selling hing

The Food Safety and Standards Authority of India has issued prohibition orders against two spice…

2 hours ago

Man on Phuket-B’luru flight tries to hide drugs in overhead panel, held

A passenger flying from Phuket to Bengaluru allegedly tried to hide narcotics. He attempted to…

2 hours ago

BJP president pulls up 3 Delhi MPs for visiting Sajjan Kumar’s house

Nitin Nabin, the BJP president, took disciplinary action against three Delhi MPs who visited the…

2 hours ago