State-run Union Bank of India on Tuesday approved plans to raise up to Rs 8,000 crore through a mix of debt and equity instruments, news agency PTI reported.In a regulatory filing to the BSE, the bank said its board has approved an increase in debt capital of up to Rs 5,000 crore through additional Tier 1 bonds and/or Basel III compliant Tier 2 bonds.The board also approved raising Rs 3,000 crore through issuance of shares in phases within the total limit of Rs 8,000 crore.The equity component may be offered through a public issue, including a further public offering (FPO), rights issue or private placements such as qualified institutional placement (QIP) and preferential allotments, the filing said.“The Board of Directors at its meeting held on May 26, 2026 considered and approved the bank’s plan to increase capital by an amount not exceeding Rs 8,000 crore,” the bank said.Shares of Union Bank of India were trading at Rs 167.25 on the BSE, down 1.01 per cent from the previous close.