United Bank of India is planning to raise around Rs.1,000 crore as Tier-1 capital. It also said that it would launch a recovery drive to reduce its non-performing assets. The fund-raising is proposed to be done through either the issuance of unsecured perpetual Basel-III compliant additional Tier-I bonds in the form of promissory notes on private placement basis or perpetual non-cumulative preference shares to the Central Government or other institutional borrowers or raise preference capital. — Special Correspondent