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Union Bank to raise Rs 3K cr to meet Basel-III norms
August 5, 2013August 5, 2013by In Infrastructure Finance

Union Bank to raise Rs 3K cr to meet Basel-III norms

Mid-sized lender Union Bank of India plans to raise Rs 3,000 crore towards equity to meet Basel-III norms after 2015. Though it may not need any fresh equity until 2015, the bank has given a proposal to the Ministry of Finance for the additional capital and it is currently being studied, Union Bank Chairman and Managing Director D Sarkar said. The government roughly holds 58 per cent in the bank as on June 30, 2013.