UCO Bank Debt Resolution under NCLT

Published on January 05, 2020
Current context: State owned United Commercial (UCO) Bank has recovered Rs 800-900 crore in the 3rd quarter (ending December) by corporate debt resolution of four accounts under the bankruptcy law.
UCO Bank Debt Resolution under NCLT 
  • The four accounts are:
    1. Ruchi Soya
    2. Essar Steel
    3. RattanIndia Power
    4. Prayagraj Power
  • The recovery would help the bank to reduce its net losses as the bank had reported net losses for the last 16 quarters.
  • Due to high bad loan ratios and negative return on assets, the UCO bank is still being under Reserve Bank of India's prompt corrective action.
  • Its gross NPA ratio was as high as 21.87% at the end of September 2019.
  • UCO Bank Headquarters: Kolkata
  • CEO: Atul Kumar Goel (2 Nov 2018 till present)
  • Founder: Ghanshyam Das Birla
  • Founded: 1943, Kolkata
  • Tagline: “Honours Your Trust”

Question: 

Q.1 The Tagline of the United Commercial (UCO) Bank is?
a. Together we can
b. Good Bank of Good People
c. Honours Your Trust
d. Trusted Family Bank

Can I help you?

ramandeep singh

Hey I am Ramandeep Singh. I am determined to help students preparing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

Join my class here
    Follow me:
Close Menu
Close Menu