UBI expects recovery of Rs 40 bn from settlements under NCLT by 2018-19

Public sector lender, United Bank of India (UBI), currently under the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA), is expecting a recovery of Rs 40 billion from settlements under the National Company Law Tribunal (NCLT) by the end of 2018-19. The bank has also requested the RBI to relax norms on risk-weighted assets, so that it can expand its lending book, said a top executive of the bank.

The bank is not expecting more than 30-35 per cent recovery from the second list of the RBI, said Ashok Pradhan, executive director, UBI. In the second list, the bank