United Bank of India today got shareholders' approval to allot 1.37 crore equity shares on preferential allotment basis to the government.
Shareholders passed the proposal in an extraordinary general meeting held here.
The bank had sought Rs 100 crore from the government to strengthen its Tier-I capital to fund future expansion, a statement said.
Also read: Banks' credit growth to industry slows in January: RBI
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
