 "UCO Bank turnaround plan takes shape, sans salary cut")
With salary cuts not being a part of the turnaround plan, Kolkata-based UCO Bank has embarked upon a cost-cutting plan that involves reduction of operational cost through branch rationalisation and CASA growth, among other measures.
Earlier, the Centre had sent letters to 10 banks, including UCO Bank, asking them to lay out a revival road-map for availing government funds. The letter also said that some staff benefits could be restructured on a temporary basis. However, on account of stiff opposition from unions, the clause of salary cut was not included in UCO Bank's turnaround plan.
Instead, the present turnaround plan includes merger
