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UCO Bank to raise Rs 13.7 bn from government

Stock of the bank was trading 1.15 per cent higher at Rs 30.70 apiece on BSE

Press Trust of India  |  New Delhi 

UCO Bank posts Rs 440.57 crore loss in Q1, asset quality deteriorates

today said its Board has approved a proposal to issue equity on preferential basis to the for capital infusion of Rs 13.75 billion. "We have received the approval of Board of Directors...for the proposal to issue equity on preferential basis to of against capital contribution of Rs 13.75 billion subject to necessary approvals," said in a filing. The had on October 24 unveiled a Rs 2.11 trillion two-year road map for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution. Stock of the was trading 1.15 per cent higher at Rs 30.70 apiece on

First Published: Wed, January 03 2018. 13:15 IST
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