Have exposure of Rs 2000cr which comes under RBI’s new directive: UCO Bank

In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke about the latest happenings in the bank and the overall sector.

Takkar said that the new guidelines as per the Reserve Bank of India’s circular dated February 12th, we have to take call on all accounts beginning with exposure of about Rs 2,000 crore from the banking system.

He further said that we have exposure of around Rs 2,000 crore of such accounts which would be coming under this purview.

Talking about fraudulent element in NPAs over Rs 50 crore, he said that the process has started. As bankers we have taken a call and we have to see the accounts where we are the lead bankers or sole bankers.

“In accounts where we are the sole bank or the lead bank, we have started already giving mandate to various audit firms,” he said.

For entire interview, watch accompanying video.