Government of India will make a capital infusion of Rs 2,159 crore in the equity capital of Union Bank of India by Preferential Allotment. The Bank proposes to secure the shareholders’ approval to the proposed preferential allotment by a Special Resolution by convening an Extraordinary General Meeting.
Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories – Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.