Reserve Bank of India puts restriction on UCO Bank's business

Posted on:15 May 2017 15:02:47
Reserve Bank of India puts restriction on UCO Bank's business
15 May 2017 Current Affairs:

  • Reserve Bank of India has put a restriction on United Commercial (UCO) Bank’s lending and branch Expansion.

  • Reason:- UCO bank 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 a negative return of assets.

  • UCO bank has become the second lender to face business restrictions after IDBI Bank.


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