The Reserve Bank of India's PCA framework kicks in when banks breach any of the four key regulatory trigger points, namely capital-to-risk weighted assets ratio, net non-performing assets, return on assets (profitability), and leverage ratio.
The state-owned company is looking to raise Rs 4,500- 5,000 crore in the current fiscal.
Its total income in the June 2019 quarter rose to Rs 4,446.61 crore as against Rs 4,360.88 crore in the year-ago quarter.
The NBCC appointment has more questions than answers. It’s a throwback to SBI’s beast of burden role
The bank has recovered Rs 1,163 crore so far from six accounts for which NCLT resolution was concluded.
In full 2018-19, the total income moved up to Rs 15,844.14 crore as against Rs 15,141.13 crore.
At 1236 hrs, UCO Bank was quoting Rs 19.25, up 4.90 percent on the BSE.
The rise in the pace of the write-off exercise indicates that write-offs may be sizeable in the current year too.
The RBI said penalty of Rs 2 crore has been imposed each on Axis Bank and UCO Bank for non-compliance of norms related to payment through cheques.
The board of the bank, in its meeting held on Thursday, also approved raising Rs 500 crore from tier-II bonds.
UCO Bank said it had received Rs 3,074 crore through preferential allotment to Government of India.
The government pumped in Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds.
Under the agreement, New Delhi must restrict its Iran oil purchases to 1.25 million tonnes, or 9 million barrels.
The bank had registered a net loss of Rs 622.56 crore in the September quarter of 2017-18.
Goel takes over from R K Takkar who completed his three-year tenure on November 1, 2018.
India had contracted to import about 25 million tonnes of crude oil from Iran in the fiscal year 2018-19 (April 2018 to March 2019), up from 22.6 million tonnes imported in 2017-18.
During April-June period of 2017-18, its net loss stood at Rs 663.02 crore. While in the March quarter of FY2017-18, loss was Rs 2,134.36 crore.
The state-owned bank is aiming to recover bad loans of around Rs 4,000 crore this fiscal, UCO Bank MD and CEO R K Takkar said on the sidelines of its AGM.
Around 19 of the 21 state-run banks reported losses for the fiscal, including country's largest lender SBI, while the otherwise resilient private sector banks were also not immune, with Axis Bank reporting its first quarterly loss.
The market breadth was in favour of the declines with 697 stocks advancing while 1006 declined and 347 remained unchanged. On the other hand, in the BSE, 1011 stocks advanced and 1486 declined and 167 remained unchanged.