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.
Shares of UCO Bank plunged nearly 18 percent in morning trade after the CBI booked Arun Kaul, former chairman-cum-managing director of the lender, and others in connection with an alleged Rs 621-crore loan fraud.
The Nifty PSU banking index jumped 3.66 percent led by Bank of India which zoomed over 9 percent intraday on the back of recovery of Rs 7,000 crore from other banks. Punjab National Bank was up 4.3 percent while Andhra Bank zoomed over 5 percent.
PSBs have in the recent past expedited their loan recovery process, specifically against those loans that have turned bad.
UCO Bank in its filing on Saturday said its Hong Kong branch granted loans against letters of credit issued by PNB and was "fully confident" of receiving payment from PNB.
As on December-end, LIC's stake in the bank stands at 12.12 percent while that of government stands at 80.50 percent
These recap bonds can be part of held-to-maturity (HTM) portfolio without any limit but are non-transferable and cannot be converted into any other securities.
The market breadth was in favour of the advances on Thursday morning with 804 stocks advancing as against 782 declines while 418 remained unchanged. On the other hand, 1051 stocks advanced and 948 stocks declined while 85 remained unchanged on the BSE.
The government had on October 24 unveiled a Rs 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.
The dacoits broke into the Damanpur branch of UCO bank last night and looted the money, they said.