CRISIL has assigned its 'A1+' rating to the Rs 20 billion certificate of deposits programme of United Bank of India (United Bank).

The bank's liquidity position is comfortable, supported by healthy proportion of low cost current and savings (CASA) deposits, high proportion of liquid investments and also access to systemic sources of funds, such as refinance limits from RBI and access to the call money market.

CRISIL has also reaffirmed the ratings on the other debt instruments of the bank at 'AA-/A'. The ratings on the bank's Tier II Bonds (under Basel III), Lower Tier II Bonds, and Tier I Perpetual Bonds continue to be on 'Watch with Negative Implications'.

Shares of the bank gained Rs 1.75, or 4.08%, to settle at Rs 44.65. The total volume of shares traded was 457,091 at the BSE (Wednesday).