Union Bank of India has received an approval to raise capital through issue of Equity Shares up to Rs 600 crore (including premium, if any) in one or more tranches to its employees under Employee Share Purchase Scheme (ESPS). The Board of Directors of the Bank at their meeting held on November 12, 2018, approved the same.
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.