According to a statement issued at the Bombay Stock Exchange, Union Bank of India has raised its authorised capital to Rs 3,000 crore from the existing Rs 1,500 crore. A resolution to this effect was passed in the meeting of the Board of Directors of the bank held on December 12.
On a similar front, State Bank Of India has concluded an issue of $100 million Senior Debt, Fixed Rate Bonds, at a coupon of 4.50 per cent (payable semi-annually) per annum under the Medium Term Note programme. The information was issued by the bank, in a notice to the stock exchange and stated, the bonds, which mature on October 23, 2014, will be issued as of December 18.
According to a statement issued by the Allahabad Bank, the lender has also raised capital worth Rs 500 crore through Upper Tier-II bonds and an Innovative Perpetual Debt of Rs 150 crore at a coupon rate of 8.58 per cent / annum and 9.08 per cent / annum.