Union Bank of India has received its board’s approval to raise Rs 250 crore by issuing additional tier-I Basel III compliant bonds. The bank will issue the bonds in favour of Prime Minister’s National Relief Fund. The Bank’s board gave approval for the same on March 16, 2017.
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.