Government to infuse Rs 681 crore in UCO Bank

Capital Infusion in UCO Bank. Government to infuse Rs 681 crore in UCO Bank.

Kolkata-headquartered UCO BankUCO-Bank-Logo to receive Rs 681 crore from the Union Government and the bank to allot the same amount of preferential shares to the government.

Shareholders of the UCO Bank have approved the capital infusion of Rs 681 crore by the government on March 4, 2013.

The exercise is part of the Rs 12,517 crore capital infusion plan announced by the government in January.

The government infused about Rs 20,117 crore in public sector banks during 2010-11, and Rs 12,000 crore in 2011-12.

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