Reserve Bank of India has put restriction on Kolkata based PSU UCO Bank’s lending and branch expansion plans as the state-run lender made net losses for the two successive fiscal amid severe stress on asset quality.
RBI has initiated ‘Prompt Corrective Action’ (PCA) framework on UCO bank on account of high bad loans and negative return of assets. UCO has become the second lender to face business restrictions after IDBI Bank.
Important Takeaways from above News for BOB PO Exam-
- MD and CEO of UCO bank is Shri Ravi Krishan Takkar
- UCO bank headquarter is in Kolkata
- Newly appointed Deputy Governor of RBI is BP Kanungo.
- Tagline of the UCO Bank is ‘Honour your Trust’
Source- The Economic Times
If you have any other takeaways, do share with us in the comment section