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.
In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke about how the sector overall is dealing with the aftermath of what has been a big fraud headline.
Government has announced additional Rs 80,000 crore capital infusion via recap bonds for public sector banks. Sapna Das of CNBC-TV18 caught up with RK Takkar, CMD of UCO Bank and asked about how this additional capital will help the bank and the sector as a whole.
Anil Ambani has scripted a rescue operation for his telecom business. There is a huge debt resolution plan that is afoot and that will perhaps remove about Rs 39,000 crore out of Rs 45,000 crore of debt that the company now bears.
There should be some clarity as to what exactly is the default. Sebi should allow some time for repayments in case of a genuine delay, said Ravi Krishan Takkar, MD & CEO of UCO Bank.
In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke about government's capital infusion plan.
In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke briefly about the finance ministry report on bank mergers.
The Reserve Bank of India (RBI) has taken a crucial step in the battle against bad loans.
In an interview to CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke about the latest happenings in his organisation.
The management expects success rate of 50 percent of the Rs 3,000 crore in the sale process. The assets put on block are from various sectors.
In an interview to CNBC-TV18, Charan Singh, Executive Director, UCO Bank, shares his views on the impact the Reserve Bank's change in lending rate math will have on the bank's financials.
The lower base rates for both the banks will come into effect from October 5, 2015.
The bank has cut its base rate from 10.15 percent to 9.95 percent effective October 5, 2015
Other than UCO Bank, State Bank of India, Bank of India, Andhra Bank and State Bank Of Travancore have also cut their base rates.
Charan Singh, ED, UCO Bank said the restructured portfolio of the institution is seeing a gradual reduction and retail credit is growing at 15 percent.
The RBI on Monday said banks that decide to recast a company's debt under SDR scheme must hold 51% or more of the equity after the debt-for-share conversion. Arun Kaul, chairman of UCO Bank, says the intent of the RBI is clear â€“ it is to overhaul the old management and bring in a new one.
According to Arun Kaul, Chairman at UCO Bank, their current exposure to REI Agro stands at Rs 800 crore
Discussing the latest developments, Deepak Narang, ED, United Bank of India, said the bank had given money to Airbus on behalf of Kingfisher and its unethical of them (Airbus) not to deliver post taking money.
UCO Bank is planning to sell bad loans worth Rs 1,900 crore from 100 more accounts to clean its balance sheet. The bank has already sold NPAs worth Rs 300 crore in the last quarter.
Third-quarter earnings for UCO Bank from treasury gains as the banking system witnessed large FCNR deposits and as bond yields came down thanks to the Reserve Bank of India‘s recent liquidity-boosting measures, Arun Kaul, Chairman, UCO Bank, told CNBC-TV18.
Cost of the fund for the UCO Bank had gone down to as low as 6.10 percent in previous quarter which has been lowest in banking industry, says CMD Arun Kaul.
Bank of India and UCO Bank feel that the current infusion of capital by the government, they may not need additional capital till the end of the fiscal year.
In an interview to CNBC-TV18, SS Mundra, Chairman, Bank of Baroda and Arun Kaul, Chairman, UCO Bank spoke about impact of RBI relief on MTM losses.
Arun Kaul of UCO Bank said that he did not expect a rate cut by the RBI in its next policy meet. He added that liquidity infusion in the economy after the inflation data was not on RBI's agenda.
The government-owned UCO bank is expecting a significant fall in its gross non-performing assets (NPA) during Jan-Mar as it sees much lower slippages during the quarter.