Union Bank of India has approved a plan to raise up to Rs 20,000 crore through long-term bonds. The funds will support infrastructure and affordable housing projects. The bank also plans to issue up to Rs 5,000 crore in green or sustainable bonds, with some fundraising targeted before March 31, 2026.
Union Bank of India's committee of directors has greenlit a fundraising initiative via long-term bonds totaling up to Rs 20,000 crore. These bonds are earmarked for financing infrastructure and affordable housing initiatives, as outlined in the bank's announcement. Additionally, the lender intends to issue green or sustainable bonds worth up to Rs 5,000 crore, aligning with its focus on environmentally friendly projects, referred to as Union Bank green initiatives in related keywords. A portion of these funds is scheduled to be raised before the end of the financial year on March 31, 2026. This move comes as part of broader efforts by the Committee of Directors for fundraising, supporting the bank's activities into financial year 2026. The approval underscores ongoing strategies in bond issuance for key sectors like infrastructure financing and affordable housing funding.