UBI to get Rs 418-crore capital from government

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Kolkata, March 17 (IANS) State-run United Bank of India on Friday said the central government will infuse Rs 418 crore capital in the bank as a part of turnaround-linked capital infusion plan.

“The exchange (Bombay Stock Exchange) is hereby informed that the bank has received a communication from the central government…informing inter alia capital allocation of Rs 418 crore as a part of turnaround-linked capital infusion plan,” the lender said in a filing to the BSE.

Last September, the bank had received Rs 608 crore from the central government through preferential allotment of equity shares following the announcement of capital infusion of Rs 22,915 crore towards the recapitalisation of 13 public sector banks during 2016-17.

–IANS

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