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Tuesday, December 24, 2013

UBI to get Rs 700-cr capital infusion

The Centre will provide Rs 700 crore to the United Bank of India (UBI) as a part of its capital infusion programme for FY14. UBI on its part will allot 18 crore shares.

The Centre’s capital infusion is expected to be to the tune of Rs 14,500 crore across all state-run banks.

The capital infusion will help UBI pursue its growth strategies and comply with the Basel-III norms, Archana Bhargava, CMD of the bank, said in press release

Source: thehindubusinessline


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