UCO Bank in the green

about 4 months ago
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UCO Bank is today among the top five gainers on the BSE, opening 14% higher at Rs.14.60 and rising up to an intraday high at Rs.14.85. Its 52-week high is at Rs.16.30.

The stock price surged after RBI said that the Bank will no longer be subject to strict lending curbs imposed since May 2017 as it has been taken out of the prompt corrective action (PCA) restrictions.

RBI said that the Bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net non-performing asset (NPA) and leverage ratio on an ongoing basis.

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