UCO Bank gets big relief, RBI lifts lending restrictions, bank comes out of PCA scope

Great relief for UCO Bank. Four years later, the bank’s lending restrictions are now over.

Reserve Bank of India UCO Bank in May 2017 There were restrictions on lending. The RBI has said that UCO Bank has been exempted from the Prompt Corrective Action (PCA).

On this, the RBI said that under the Reserve Bank’s PCA framework, UCO Bank’s performance has been reviewed by the Board of Financial Supervision. In which it was observed that the bank is not violating the PCA rules as per the results for the year ended March 31, 2021. As on March 31, UCO Bank’s net NPA ratio was 3.94%, down 151 basis points from the same period last year. Under Basel III, its total capital adequacy ratio was 13.74%, which is 204 bps higher than the fourth quarter of the financial year.

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