Comments
Public sector lender UCO Bank on Wednesday said its Board has approved a proposal to issue equity shares on preferential basis to the government for capital infusion of ₹1,375 crore.
“We have received the approval of Board of Directors...for the proposal to issue equity shares on preferential basis to Government of India against capital contribution of ₹1,375 crore subject to necessary approvals,” UCO Bank said in a BSE filing.
The government had on October 24 unveiled a ₹2.11 lakh crore two-year road map for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.
Stock of the bank was trading 1.15 per cent higher at ₹30.70 apiece on BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.