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United Bank of India gets nod to raise funds up to Rs 3000 crore

United Bank of India’s board has approved raising of equity capital, in one or more tranches, for an amount not exceeding Rs 3000 crore by way of preferential allotment of equity shares.

United Bank of India is one of the 14 major banks, which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.

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