The Union Government will infuse capital to the tune of Rs 480 crore in the state-run United Bank of India (UBI). Infusion is likely to be by way of preferential allotment of equity.
The Kolkata-headquartered bank in a notification to the BSE said: “…the (Union) government has decided to infuse capital funds to the tune of Rs 480 crore by way of preferential allotment of equity”.