City Union Bank Limited has received a no-objection from the Reserve Bank of India (RBI) for amendments to its Memorandum of Association, specifically concerning its authorized share capital. The bank’s authorized share capital will now be increased to ₹200,00,00,000/- (Rupees Two Hundred Crores only), divided into 2,00,00,00,000 Equity Shares of Re.1/- each. This approval, dated September 11, 2026, aligns with SEBI regulations and reflects the bank’s strategic planning for future growth and capital requirements.
RBI Greenlights Share Capital Amendment
City Union Bank Limited (CUB) has announced that it has received the Reserve Bank of India’s (RBI) approval for significant amendments to its Memorandum of Association (MoA). The key change pertains to the bank’s authorized share capital, which has been approved to increase to ₹200,00,00,000/- (Rupees Two Hundred Crores only). This substantial increase will be represented by 2,00,00,00,000 Equity Shares, each with a face value of Re.1/-.
Strategic Capital Expansion
The approval, officially conveyed by the RBI on September 11, 2026, follows earlier communications and is in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This capital enhancement is a strategic move aimed at strengthening the bank’s financial base and providing it with greater flexibility for future expansion, investment, and to meet potential capital needs as outlined in its Articles of Association.
Details of the Amendment
The amendment specifically impacts Clause 5 of the Memorandum of Association. The bank’s Articles of Association, under Clause 4 (i), already provide for the bank’s ability to increase or reduce its authorized capital as per the provisions of the Acts and relevant resolutions. The updated authorized share capital of ₹200 crore was approved by the shareholders at the AGM on August 14, 2026, with the RBI’s formal clearance received on September 11, 2026.
A copy of the altered Memorandum and Articles of Association has been enclosed with the filing for the exchange’s reference.
Source: BSE
