UCO Bank seeks Rs 800-cr capital infusion from Centre

UCO Bank seeks Rs 800-cr capital infusion from Government of India.

Kolkata-headquartered public sector lender UCO BankUCO-Bank-Logo has sought Rs 800-crore capital from the Central Government to fund its growth needs and boost its capital adequacy ratio (CAR).

The bank has already garnered Rs 1,000-crore worth capital by way of Tier-II bonds so far during this fiscal. “We have asked for Rs 800 crore and we hope to get it soon,” Executive Director (ED) of UCO Bank S. Chandrasekharan said in Kolkata on January 5, 2013 at a press meet on the occasion of the 71st Foundation Day of the bank.

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