Facing mergers and pay cuts, UCO Bank staff launch platform for turnaround

UCO Bank is currently under prompt corrective action (PCA) by the Reserve Bank of India

In the face of threats of merger and salary cuts, employees and officers of UCO Bank have joined hands and launched a platform — United Forum of UCO Bank Unions — aimed at a speedier turnaround of the bank.
 
The mandate of the newly-formed organisation is to motivate employees to work overtime and on holidays, holding credit camps for retail loans, retaining customers, and intensifying the recovery of non-performing assets (NPAs) through door-to-door campaigns, said Partha Chanda, secretary of the All India UCO Bank Employees’ Federation.
 
UCO Bank’s staff strength is about 25,000.
 
A few months ago,