×
E-PAPER ▾

E-paper

Business

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.    

 
 
 
 
 

TOP STORIES

Sunday Edition

View All

K’taka CM plants paddy saplings in solidarity with agriculturists

12 Aug 2018 | Kestur Vasuki | Bengaluru

Karnataka Chief Minister HD Kumaraswamy who is facing wrath from the farmers in the State, in an appealing gesture planted paddy saplings in solidarity on Saturday. He chose Aralukuppe village in Mandya district the heart land of vokkaliga politics sowed paddy saplings in a muddied agriculture field amidst a large gathering...

Read More

STATE EDITIONS

View All

Odia version of PM’s ‘Exam Warriors’ released

14 Aug 2018 | PNS | BHUBANESWAR

Governor Prof Ganeshi Lal released Odia version of ‘Exam Warriors’, written by Prime Minister Narendra Modi, here on Monday. Releasing the book, the Governor said a common child can build self a superman by strong commitment and will power...

Read More

Page generated in 0.2726 seconds.