United Bank Of India (BSE:533171) had recently resolved to issue 50 million of its shares to its employees under an employee stock purchase scheme (ESPS). However, in a potential setback to the image of the bank, majority of workers and officers of United Bank of India are opposing the proposed allotment of shares under an employee stock purchase scheme (ESPS) on grounds that it will lead to a dilution of the government’s ownership. United Bank was planning to mop up around INR 850 million through this issue of shares.