At meeting held on 18 December 2015
United Bank of India announced that the Board of Directors of the Company at its meeting held on 18 December 2015, has approved the proposal to raise Equity Capital by Preferential Allotment up to Rs.1500 crore including premium to the President of India on behalf of the Central Government, or Life Insurance Corporation of India or funds thereof or such other investors as may be decided provided that the Central Government holding at any time shall not fall below 51% of the total equity capital of the Bank and subject to all necessary approvals and clearances being in place.Powered by Capital Market - Live News