Union Bank board okays merger of Andhra, Corp Bank with itself; clears Rs 17,200-cr capital infusion

Union Bank of India on Monday said its board of directors has approved merger of Andhra Bank and Corporation Bank with itself and given nod for a capital infusion of Rs 17,200 crore in the current financial year. The decision was taken at the meeting of the board of directors held on Monday, the bank said in a regulatory filing.