Centre Infuses Rs 3,076 Crore In State-Run UCO Bank

INSUBCONTINENT EXCLUSIVE:
has infused Rs 3,076 crore of capital into it by way of preferential allotment
The government "has conveyed its decision to invest Rs 3,074 crore in equity of Bank by way of preferential allotment and Bank has received
amount on Monday," it said in a regulatory filing.By end of second quarter of 2018-19 (FY19), its capital adequate ratio (Basel III) stood
at 7.57 per cent as against 9.32 per cent year-ago.The government holds 90.8 per cent stake in lender as on September 30.The lender posted
Rs 1,136.44 crore net loss for second quarter of FY19 against a net loss of Rs 622.56 crore for same period of previous fiscal as provision
to cover bad loans increased.During September quarter this fiscal, gross non-performing assets (NPAs) in absolute terms fell marginally on
basis points (bps) to 25.37 per cent from 25.71 per cent during June quarter.