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UCO Bank News
This bank just hit a 12-year low, a whopping 18 pct plunge after Rs 621-cr fraud surfaces
Mon, Apr 16, 2018
UCO Bank share price was trading at Rs 20.55, down 8 per cent on the BSE. Central Bureau of Investigation (CBI) has filed a case against the bank’s former chairman and Managing Director (CMD) Arun Kaul and several business executives in connection with its ongoing probe into an alleged Rs 737 crore bank loan fraud case.
UCO bank loan fraud: CBI to question ex-CMD Arun Kaul
Sun, Apr 15, 2018
A Central Bureau of Investigation (CBI) official, privy to the investigation, told IANS: "We will summon Kaul for questioning in a day or two." Earlier, the agency filed a case against Kaul, Era Engineering Infra India Ltd ( EEIL ), its CMD Hem Singh Bharana , two chartered accountants -- Pankaj Jain and Vandna Sharda -- and Pawan Bansal of Altius Finserve Pvt Ltd among others in connection with the alleged Rs 621 crore loan fraud which has caused a loss of over Rs 737 crore to the bank
Sensex extends losses, dips 200 points; Nifty below 10,400
Mon, Feb 19, 2018
The benchmark indices extended losses as the session progressed even as global cues remained positive with the Asian markets ticking up, joining a global recovery.
PNB Fraud: Officials of other banks under scanner
Sun, Feb 18, 2018
As investigations into the Rs 11,400 crore scam at PNB gather momentum, officials at overseas branches of other banks, where the fraudulently issued Letter of Undertakings (LoUs) were encashed, are under scanner, sources said.
Nirav Modi scam: Crisil puts PNB ratings on the watch
Sun, Feb 18, 2018
Rating agency Crisil has put the scam-ridden Punjab National Bank's ratings on 'watch', following the Rs 11,400-crore fraud detected by the lender at one of its Mumbai branches.
RBI to resolve bad loans of nearly 1,500 accounts with PSBs
Mon, Jan 08, 2018
As of September 2017, PSBs' gross non-performing assets (GNPA) stood at Rs 7.34 lakh crore.
Shares of 6 banks up after govt decides capital infusion of Rs 7,577 crore
Thu, Jan 04, 2018
The government has pumped Rs 51,858 crore capital in the PSBs so far, since the Indradhanush road map was announced in 2015.
UCO Bank to raise Rs 1,375 cr from govt via preferential shares
Wed, Jan 03, 2018
This capital infusion is a part of public sector banks' recapitalisation programme
RBI puts Bank of India under watch; initiates 'corrective action'
Wed, Dec 20, 2017
In a filing to stock exchanges, BoI said Reserve Bank of India has placed it under Prompt Corrective Action Framework, consequent to the onsite inspection under the risk based supervision model carried out for the year ended March 2017.
Punjab National Bank, Union Bank bad loan growth slows but provisions weigh
Fri, Nov 03, 2017
State-run lenders account for the bulk of India`s 9.5 trillion rupees in soured bank loans as of June. The surge in bad loans has choked new lending in an economy which needs more investment to help spur growth.
IDBI to establish exclusive vertical for NPA recovery
Tue, Jun 13, 2017
Apart from creating this NPA recovery vertical, the bank management has formed a 'Credit Monitoring Group' to find out potential NPAs based on early warning signals, said Deputy Managing Director of IDBI Bank, G M Yadwadkar.
Prompt Corrective Action doesn't constraint bank's normal operations: RBI
Tue, Jun 06, 2017
The RBI today said its prompt corrective action (PCA), initiated in case of some public sector banks with high NPAs, is a supervision tool and does not constrain normal banking operations for the public.
RBI initiates 'Prompt Corrective Action' against UCO Bank on high bad loans, negative return on assets
Sun, May 14, 2017
The Reserve Bank of India (RBI) has initiated a 'Prompt Corrective Action' against UCO Bank on account of the bank's increasing bad loans and negative return on assets.
Reserve Bank imposed Prompt corrective Action on UCO bank
Sat, May 13, 2017
Reserve Bank imposed Prompt corrective Action on UCO bank. Watch the full segment for more details.
Centre to infuse Rs 8,586 crore capital in 10 weak banks
Sun, Mar 19, 2017
Venkatachalam said the reason for signing the MoU is understandable and AIBEA is ready for it.
UCO Bank cuts lending rate by up to 0.8%
Tue, Jan 10, 2017
Public sector lender UCO Bank today slashed its benchmark lending rate by up to 0.8 % in line with market competition. The bank has reduced marginal cost of funds based lending rate (MCLR) by 0.7 % to 8.60 % for 1 year tenor, UCO Bank said in a filing to stock exchanges.
RBI questions banks for lending Rs 5,262 crore to rice trading firm REI Agro
Mon, Aug 15, 2016
Reserve Bank of India (RBI) has questioned the decision of a 21-bank consortium led by UCO Bank to extend a staggering Rs 5,262-crore loan to Kolkata-based rice trading firm REI Agro which was found to be involved in fraudulent activities.