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UBI plans to raise Rs 6,000 cr to meet capital needs


Devdiscourse News Desk new delhi India
Updated: 15-05-2019 23:03 IST
UBI plans to raise Rs 6,000 cr to meet capital needs

Image Credit: Twitter (@UnionBankTweets)

Union Bank of India (UBI) on Wednesday said it plans to raise up to Rs 6,000 crore this fiscal through securities to meet its capital requirement.

The board of the company, in a meeting held on Wednesday, approved raising "total capital fund up to Rs 6,000 crore during FY 2019-20," UBI said in a regulatory filing.

Approval of the shareholders for raising the equity capital would be sought at the Annual General Meeting of the company, to be held on June 28, 2019.

(With inputs from agencies.)

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COUNTRY : India

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