The Committee of Directors at Union Bank of India met on March 16, 2026, to approve significant non-capital fund-raising activities. The bank received approval for issuing Long-Term Bonds up to ₹20,000 crore to finance infrastructure and affordable housing. Additionally, the committee sanctioned the issuance of Green/Sustainable Bonds totaling up to ₹5,000 crore in multiple tranches.
Union Bank Approves Non-Capital Fundraising
Following a formal meeting held on Monday, March 16, 2026, the Committee of Directors of Union Bank of India sanctioned key resolutions concerning the raising of non-capital funds. The committee meeting, which commenced at 10:00 A.M. and concluded at 10:20 A.M., focused on strategic debt issuances planned for the financial year.
Long-Term Bond Issuance Details
The primary resolution approved the issuance of Long-Term Bonds in one or more tranches, with a cumulative ceiling of ₹20,000 crore. These funds are earmarked specifically for financing infrastructure and affordable housing projects, aligning with the Bank’s approved strategic plan. The bank indicated an immediate focus on raising ₹7,500 crore, comprising a ₹3,000 crore Base Issue plus a potential ₹4,500 crore Green Shoe option. These specific instruments are expected to carry a 10-year tenor and must be completed before March 31, 2026.
Green and Sustainable Bonds Sanctioned
Furthermore, the Committee approved the issuance of Green Bonds or Sustainable Bonds. This segment of fundraising is capped at ₹5,000 crore, also to be issued in one or more tranches. This initiative demonstrates the Bank’s commitment to supporting environmentally and sustainably focused projects through targeted debt instruments.
Source: BSE
