Mumbai, March 16 -- Union Bank of India on Monday said its Committee of Directors for fund raising (Non-Capital) has approved the issuance of long-term bonds and green bonds/sustainable bonds to raise funds for infrastructure, affordable housing and other initiatives.

According to a circular issued by the Union Bank of India, the committee approved the "issuance of Long-Term Bonds amounting upto Rs 20,000 crore in one or more tranches for financing of infrastructure & affordable housing."

The bank added that it will explore raising part of this amount in the current financial year, i.e. before March 31, 2026. The circular stated that "the Board approved plan; out of which bank may explore opportunities to raise Rs 7,500 crore (Base Issu...