SummaryUCO bank reported a 9.62% growth year-on-year in total business at ₹4.5 lakh crore for the quarter ended March 31, 2024.Shares of UCO Bank Ltd gained 2.5% on Tuesday, April 9, after the public sector lender reported a nearly 16% jump in advances for the fourth quarter of the financial year 2023-24.
The public sector lender in its business update for the March quarter and full financial year 2023-24 (FY24) filed with the stock exchanges reported that its advances increased 15.92% to ₹1.87 lakh crore in the March quarter against ₹1.62 lakh crore in the corresponding period a year ago.
Its gross advances also increased marginally quarter-on-quarter (QoQ) compared to ₹1.79…
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Category: UCO Bank
South Kolkata District Commission Holds UCO Bank Liable For Failure To Utilize CBS Facility To Transfer Matured FD Amount
The District Consumer Dispute Redressal Commission-III, South Kolkata (West Bengal) bench comprising Mrs. Monihar Begum (Presiding Member) and Mr. Manish Deb (Member) held UCO Bank liable for deficiency in service for failure to utilize the Core Banking Solution (CBS) facility to credit the matured fixed deposit amount in the Complainant’s savings account. The Bank was directed to…The District Consumer Dispute Redressal Commission-III, South Kolkata (West Bengal) bench comprising Mrs. Monihar Begum (Presiding Member) and Mr. Manish Deb (Member) held UCO Bank liable for deficiency in service for failure to utilize the Core Banking Solution (CBS) facility to credit the matured…
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UCO Bank trades 2.5% higher on 16% growth in Q4 advances
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UCO Bank shares gained 2.5 percent in early trade on April 9, after the lender reported a 16 percent on-year growth in Q4 advances.
The bank has reported total business at Rs 4.50 lakh crore for the quarter ended March FY24, growing 9.62 percent over the same period last fiscal.
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At 9.25am, shares of UCO Bank were quoting Rs 56.3 on the NSE, higher by 0.9 percent, compared to the previous session’s closing price.
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Reports growth in total business, advances and deposits
Public sector lender UCO Bank on Monday (April 8) posted encouraging figures for the fourth quarter, showcasing growth in its total business, advances, deposits, and an improvement in its CASA ratio.The bank’s total business surged to ₹4.50 lakh crore, marking an increase from ₹4.35 lakh crore in the previous quarter and ₹4.11 lakh crore from the same period last year.Furthermore, UCO Bank’s total advances reached ₹1.87 lakh crore, up from ₹1.79 lakh crore in the previous quarter and ₹1.62 lakh crore from the corresponding quarter last year.
Also Read: Q4 business update: Punjab National Bank total deposits up 7% to ₹13.7 lakh crore
In terms of deposits, UCO Bank recorded…
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UCO Bank targets 12% loan growth this year
State-owned UCO Bank is targeting loan growth of 12% in the current financial year (FY25).The bank achieved a loan growth of 16% in FY24 versus its guidance of 12% growth.Its total deposits rose around 6% during January-March 2024 to ₹2.63 lakh crore, per its latest business update. Domestic deposits amounted to ₹2.5 lakh crore, marking a 3.73% increase year-on-year and a 1.21% increase quarter-on-quarter. The CD ratio was 74.8%, higher than the previous year’s 67.2% and the previous quarter’s 72.5%.Current account savings account (CASA) stood at ₹0.98 lakh crore, showing a 7.7% rise year-on-year and a 5.4% increase quarter-on-quarter.“Our focus will be on CASA and for…
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UCO Bank Personal Loan 2024 Apply: यूको बैंक से लो सैलरी से 10 गुना से ज्यादा का लोन, एक झटके में पैसा खाते में
UCO Bank Personal Loan 2024 Apply: UCO Bank offers personal loans at an attractive interest rate of 9.85% per annum. Customers can avail a maximum loan amount of Rs.10 lakh. The minimum tenure for the UCO Bank Personal Loan 2024 is 12 months, while the maximum tenure is 60 months. A processing fee of 1% of the loan amount is charged by the bank, with a minimum of Rs.750. There are various loan options available for different purposes such as medical bills, wedding expenses, and purchasing consumer goods like computers, refrigerators, etc. Two main loan options offered by UCO Bank are UCO Cash for salaried individuals and UCO Shopper Loan Scheme for both salaried and self-employed…
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Source: https://bharti-axagi.co.in/uco-bank-personal-loan-2024-apply/
UCO Bank scam: UCO Bank IMPS scam: CBI raids 67 locations in Rajasthan, Maharashtra
The Central Bureau of Investigation (CBI) has conducted raids across 67 locations in Rajasthan and Maharashtra in connection with the suspicious IMPS transactions worth Rs 820 crore reported at UCO Bank.On March 6, the CBI raided ‘extensive search operations’ in Rajasthan (including Jodhpur, Jaipur, Jalore, Nagaur, Barmer, Phalodi) and Pune (Maharashtra). “During these operations, approximately 130 incriminating documents related to UCO Bank and IDFC, as well as 43 digital devices (including 40 mobile phones, 2 hard disks, and 1 internet dongle) were seized for forensic analysis,” the CBI said in a press release. Further, it examined 30 suspects on the spot.The CBI had previously…
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UCO Bank Eligible For Cenvat Credit Of Service Tax Paid On Telephone Bills In Respect Of Telephones Installed At Employees’ Residence: CESTAT
The Kolkata Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that UCO Bank is eligible for the Cenvat Credit of service tax paid on telephone bills in respect of the telephones installed at the residence of employees.The bench of Ashok Jindal (Judicial Member) and K. Anpazhakan (Technical Member) has observed that the telephone has been installed to the residence…The Kolkata Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that UCO Bank is eligible for the Cenvat Credit of service tax paid on telephone bills in respect of the telephones installed at the residence of employees.The bench of Ashok Jindal (Judicial Member) and K….
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CBI raids 67 locations in Rajasthan, Maharashtra in connection with ₹820 crore IMPS scam in UCO Bank
The Central Bureau of Investigation (CBI) on Thursday said it has conducted further search operations at 67 locations in seven cities of Rajasthan and Maharashtra in connection with a case related to suspicious IMPS (immediate payment service) transactions amounting to approximately ₹820 crore across multiple UCO Bank accounts.
The agency had registered a case on November 21, 2023, on a complaint received from UCO Bank.
UCO Bank gains for third consecutive session – Capital Market Publishers India Pvt Ltd
UCO Bank gains for third consecutive session Capital Market Publishers India Pvt Ltd
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