In absolute value, the gross NPAs were down at Rs 13,365.74 crore as against Rs 25,665.14 crore.
The sources said the four lenders are Punjab & Sind Bank, Bank of Maharashtra, UCO Bank and IDBI Bank, in which the Indian government owns majority stakes through direct and indirect holdings.
In May 2017, the central bank had initiated PCA against the lender due to high non-performing assets and negative return on assets.
The bank had registered a net loss of Rs 601.45 crore in the same quarter of the previous fiscal year. Quarter-on-quarter basis, UCO Bank had logged a profit of Rs 16.78 crore in the March quarter this year.
The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said.
In its 2019-20 annual report, the bank said it is expecting the various technological initiatives for customer convenience to yield "good results" in coming months.
Income during the March quarter increased to 4,511.21 crore, from Rs 4,148.52 crore in same period of preceding fiscal, UCO Bank said in a regulatory filing.
"We have slashed the repo based lending rate - UCO Float by 0.40 percent to 6.90 percent from 7.30 percent, effective from May 27," the bank said in a late night statement.
The government expects banks to reduce lending rates, which is required to kick start the economy hit hard by the coronavirus-forced lockdown, among other factors.
A subsidiary general ledger (SGL) account is maintained with the RBI for holding government securities and treasury bills in paperless form. The account is used for facilitating delivery and payment trades.
The PCA framework poses a slew of restrictions, including caps on lending by banks.
Total income during the third quarter of 2019-20, however, rose to Rs 4,514.21 crore as against Rs 3,585.56 crore earlier, UCO Bank said in a regulatory filing.
The revised one-year MCLR now stands at 8.30 per cent, down from the existing 8.40 per cent, the state-run lender said in a release.
Hectic buying was seen on UCO Bank’s stock which surged limit up 20 percent for the second day in a row on record volumes.
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.