Union Bank of India Plans ₹6,000 Crore Fundraise via Equity and Debt
Why in the news
Union Bank of India announced that it intends to mobilise ₹6,000 crore by combining equity and debt. The announcement came through a regulatory filing after a board meeting on Wednesday.
Key facts
- Amount: ₹6,000 crore.
- Method: a mix of equity and debt.
- Purpose: to fund business growth.
- Approval: the bank’s board, at a meeting held on Wednesday.
- Disclosure route: a regulatory filing by the bank.
| Item | Detail |
|---|---|
| Bank | Union Bank of India |
| Fundraise size | ₹6,000 crore |
| Instruments | Equity and debt |
| Decision by | Board of the bank |
Exam angle
- Bank in the news: Union Bank of India.
- Amount to be raised: ₹6,000 crore through equity plus debt.
- Reason: funding business growth.