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After RBI’s ‘Prompt Corrective Action’ UCO Bank Looks for Proper Strategies
May 18, 2017
UCO Bank, which reported net losses for two years in a row was imposed operational and expansion restrictions by the RBI recently as per its revised PCA framework. As a result of which it is now looking for strategies to resolve its NPAs problems and increase profits.
Ravi Krishan Takkar, CEO and Managing Director of UCO Bank, said that the turnaround plan created with SBI Caps is likely to be decided before the month’s end. He also said once the plan has been finalized the bank will carry its operations in a regulated environment and will try to grow under low-risk assets.
The involvement of SBI Caps in the planning has to do with a measure taken by the Centre which has asked SBI Caps to design action plans tailored for theweak banks, one of which is UCO Bank itself.
