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    HomeNewsBusinessCompaniesLooking to raise Rs 2,000 crore via QIP issue: Union Bank of India

    Looking to raise Rs 2,000 crore via QIP issue: Union Bank of India

    In an interview to CNBC-TV18, Rajkiran Rai G, MD & CEO of Union Bank of India shared his views on the mega Rs 2.11 lakh crore bank recapitalisation plan that cabinet has cleared.

    CNBC-TV18
    October 25, 2017 / 14:08 IST

    In an interview to CNBC-TV18, Rajkiran Rai G, MD & CEO of Union Bank of India shared his views on the mega Rs 2.11 lakh crore bank recapitalisation plan that cabinet has cleared.

    Capital requirement for FY18 was projected around Rs 3,500 crore and Rs 4,000 crore for FY19, he said.

    Credit growth for September was at 12 percent; bank growing better than the industry. If adequate capital is available, we can grow around 15 percent, he added.

    Will take a call on fund raising after announcing Q2 results in November. We are looking to raise Rs 2,000 crore via qualified institutional placement (QIP) issue, said Rai.

    For full interview, watch accompanying video...

    CNBC-TV18
    first published: Oct 25, 2017 02:08 pm

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