Union Bank of India has received approval to raise up to Rs 6,000 crore in current financial year (FY20) through securities to meet its capital requirement. The board of the bank, in a meeting held on May 15, 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.
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