Union Bank seeks $493 mln from govt through preferential shares

MUMBAI (Reuters) - State-run lender Union Bank of India has sought 30 billion rupees from the government through preferential allotment of shares, Chairman D. Sarkar told reporters on Thursday.

Earlier on Thursday, Union Bank reported a 9.37 percent rise in net profit for the April-June quarter.

($1 = 60.8050 rupees)

(Reporting by Swati Pandey; Editing by Prateek Chatterjee)