UBI to raise Rs 1,190 crore through bonds

| | New Delhi

State-owned United Bank of India (UBI) will raise  Rs 1,190 crore through issuance of Basel III compliant additional tier I bonds. The decision was taken at the board of directors meeting held on Wednesday.

“The board of directors of the bank at its meeting... approved issue and allotment of Basel III compliant additional tier I bonds up to  Rs 1,190 crore,” United Bank said in a regulatory filing. Banks globally have to comply with the Basel III norms so as to improve and strengthen their capital planning processes. 

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks post the global sub-prime crisis of 2008 that hit the banking industry hard. Indian banking system has been implementing Basel III standards in phases since April 1, 2013. The banks are expected to fully implement these norms by March 2019.    



Sunday Edition

View All

N Korea blames US for tensions in rare UN talks

10 Dec 2017 | AFP | Seoul

North Korea blamed US "nuclear blackmail" for soaring tensions over its weapons programme in rare meetings with a senior UN official, but agreed to regular communication with the organisation, state media said today. Jeffrey Feltman arrived in Beijing today after wrapping up a five-day visit to Pyongyang aimed at defusing the crisis, just a week after North Korea said it test-fired a new ballistic missile capable of reaching the United States...

Read More


View All

CM’s Medhavi Yojana for Class XII students getting 70 per cent marks

11 Dec 2017 | Staff Reporter | Bhopal

The students securing 70 per cent marks in the Class XII examination will also get the benefit of the Chief Minister's Medhavi Vidyarthi Protsahan Yojna from next year. The scheme will cover all courses offered in government colleges...

Read More

Page generated in 2.853 seconds.