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Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds

Union Bank has raised Rs 1,500 crore by issuing Basel III compliant bonds to investors The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore The bonds are eligible for inclusion in the tier-I capital of the bank To comply with Basel-III capital regulations, banks globally need to improve and strengthen […]

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