Select Page

UCO Bank

UCO Bank releases LBO Admit Card 2025; download now at [ucobank.com] | Score in competitive exams!

UCO Bank has released the admit cards for the Local Bank Officer (LBO) written test, which is scheduled to take place on February 24, 2025. The admit cards are available for download on the bank’s official website at ucobank.com from February 18 to 24, 2025.

The written exam will consist of 155 multiple-choice questions, divided into four sections: Reasoning and Computer Aptitude, General/Economy/Banking Awareness, English Language, and Data Analysis & Interpretation. The test will be of 3 hours duration, and the maximum marks are 200. There will be no sectional qualifying marks, and the minimum qualifying marks will be based on the overall aggregate score.

Candidates who have registered for the recruitment drive can download their admit card by following these steps: Log in to the UCO Bank website, click on the recruitment link, click on the UCO Bank LBO Admit Card 2025 link, enter the login details, and download the admit card. It’s essential to keep a hard copy of the admit card for future reference.

The registration process for the recruitment drive started on January 16, 2025, and will close on February 5, 2025. This recruitment drive aims to fill 250 posts in the organization. Candidates can check the official website of UCO Bank for more detailed information on the recruitment process.

Uco Bank sets new rates with a 5 basis points hike in its one-year MCLR, starting Monday.

State-owned Uco Bank has announced a hike in its one-year marginal cost-based lending rate (MCLR) by 5 basis points, effective from Monday. This move comes despite the Reserve Bank of India’s (RBI) decision to reduce its policy repo rate by 25 basis points, a move that had been anticipated. However, the bank has simultaneously reduced its repo-linked lending rate, in line with the RBI’s decision. This decision to reduce the repo-linked lending rate is expected to have a quicker impact on customers, as repo-linked benchmark rates are more immediately transmitted to loan rates.

According to the RBI’s deputy governor, Swaminathan J, the transmission of regulatory rate cuts is quicker for repo-linked benchmark rates, as they account for 40% of the loan book. MCLR-linked rates, on the other hand, depend on a bank’s costs and typically take longer to affect loan rates. It takes around two quarters for the effect to play out, as the reset periods are mostly six months.

Uco Bank has also raised its treasury-bill linked benchmark rates by 5-10 basis points. The bank’s decision to raise its MCLR and treasury-bill linked benchmark rates is a response to increased costs and risks in the economy. Despite this, the reduction in the repo-linked lending rate is expected to provide some relief to customers.

Other banks, such as Bank of India, Indian Bank, and Karur Vysya Bank, have also reduced their repo-rate linked loans immediately after the RBI’s policy announcement. This suggests that banks are trying to pass on the benefits of the RBI’s rate cut to their customers, at least partially.

Don’t miss the last chance! Apply for 250 Local Bank Officer positions at UCO Bank LBO Recruitment 2025 before the application window closes tomorrow.

Here is a summary of the content in 400 words:

UCO Bank is closing the application window for its Local Bank Officer (LBO) recruitment drive on February 5, 2025. Eligible candidates who have not yet submitted their applications can do so on the official website of UCO Bank at ucobank.com. The bank is recruiting for 250 posts across various states in India.

To be eligible for the recruitment, candidates must meet certain requirements. They must have a degree (graduation) in any discipline from a university recognized by the Government of India or an equivalent qualification recognized by the Central Government. Candidates must also be between 20 and 30 years of age.

In addition to meeting the eligibility criteria, candidates will also need to pay an online application fee. The application fee is ₹175/- for SC/ST/PwBD candidates and ₹850/- for all others. Bank transaction charges for online payment of application fees/intimation charges will also need to be borne by the candidate.

The vacancy details are as follows: Gujarat – 57 posts, Maharashtra – 70 posts, Assam – 30 posts, Karnataka – 35 posts, Tripura – 13 posts, Sikkim – 6 posts, Nagaland – 5 posts, Meghalaya – 4 posts, Kerala – 15 posts, Telangana & Andhra Pradesh – 10 posts, and Jammu & Kashmir – 5 posts.

The registration process began on January 16, 2025, and candidates can apply until February 5, 2025. For more information, candidates can refer to the detailed notification on the UCO Bank website.

It is essential for candidates to note that the application fee is non-refundable and cannot be held in reserve for any other exam or selection. The bank will not refund the application fee on any account.

Stay updated on the recent shift in vacancy numbers for IBPS PO and Clerk recruitment

Here is a summary of the content in 400 words:

The Institute of Banking Personnel Selection (IBPS) has increased the vacancy numbers for its Probationary Officer (PO) and Clerical Cadre (Clerk) recruitment for 2024-25. The PO vacancies have risen from 3,955 to 5,888, while Clerk vacancies have increased from 6,128 to 8,792. The final count may be even higher as some banks have not reported their vacancies yet.

The increase in vacancies is a positive development for aspirants, as it directly impacts the cut-off marks and selection chances. More vacancies mean a higher number of candidates will qualify for the mains and interview rounds. The rise in vacancies also indicates that banking organizations are expanding their recruitment efforts, creating better job prospects for candidates.

The increase in IBPS PO vacancies can be attributed to the participation of Bank of Baroda and Bank of Maharashtra, which initially did not report any vacancies but later contributed significantly. Central Bank of India reduced its vacancies, while Punjab National Bank and others increased their hiring slightly.

The IBPS Clerk vacancy increase is largely due to the participation of Indian Bank, Bank of Baroda, and UCO Bank. Canara Bank reduced its clerk vacancies, while most banks maintained their initial vacancy counts.

The reasons behind the increase in IBPS PO and Clerk vacancies include bank expansion and retirements, delayed vacancy reporting by banks, increased workload in public sector banks, economic growth and credit expansion, and the government’s push for employment. The increased vacancies will lead to better selection chances, reduced competition per seat, and higher demand for skilled candidates with strong banking and technological knowledge.

Don’t miss the opportunity! UCO Bank’s LBO Recruitment 2025 deadline is near, apply now at ucobank.com.

UCO Bank has initiated the recruitment process for Local Bank Officer (LBO) positions, with a total of 250 vacancies to be filled. Eligible candidates can apply online through the official UCO Bank website, ucobank.com, until February 5, 2025. The application process is currently underway, and candidates are advised to submit their applications as soon as possible.

The state-wise vacancy breakdown is as follows: Gujarat (57), Maharashtra (70), Assam (30), Karnataka (35), Tripura (13), Sikkim (6), Nagaland (5), Meghalaya (4), Kerala (15), Telangana and Andhra Pradesh (10), and Jammu and Kashmir (5).

To be eligible, candidates must hold a graduate degree in any discipline from a university recognized by the Government of India, and be between 20 and 30 years of age. The application fee is Rs 175 for SC/ST/PWD candidates and Rs 850 for all other categories.

To apply, candidates can follow these steps:

1. Visit the official website: ucobank.com
2. Click on the recruitment link on the homepage
3. Fill out the application form and upload required documents
4. Pay the application fee and submit the application form
5. Download the confirmation page and save it for future reference

The selection process will be based on a written exam, which will cover topics such as Reasoning and Computer Aptitude, General/Economy/Banking Awareness, English Language, Data Analysis, and Interpretation.

It is essential to note that the application process will close on February 5, 2025, and candidates are advised to submit their applications as soon as possible to avoid any last-minute issues.

UCO Bank plans to raise INR 2,000 crore through a Qualified Institutional Placement (QIP) this quarter.

UCO Bank, a state-owned bank, plans to raise up to Rs 2,000 crore through a Qualified Institutional Placement (QIP) during the current quarter to comply with the Securities and Exchange Board of India’s (Sebi) minimum public shareholding (MPS) norms. The government currently holds 95.39% stake in the bank, and the QIP will reduce this holding by 3%. The bank has appointed merchant bankers and legal advisors and is in the process of meeting investors, including mutual funds.

The QIP is necessary to comply with Sebi’s rule that all listed companies must maintain an MPS of 25%. Of the 12 public sector banks, five are yet to comply with this norm, and the government’s holding is above 75% in these banks. The government has extended the deadline for meeting the MPS norms for central public sector enterprises and public sector financial institutions till August 2026.

In its quarterly results, UCO Bank reported a 27% increase in net profit at Rs 639 crore for the quarter ended December 2024, driven by both interest and non-interest income. The bank’s operating profit also rose to Rs 1,586 crore, while total income increased to Rs 7,406 crore. Interest income rose to Rs 6,220 crore, and Net Interest Income (NII) increased by 20% to Rs 2,378 crore.

The bank’s QIP plan has been approved by the government, and the bank aims to launch the issue at an opportune time during the current quarter. The QIP is expected to be a significant step towards increasing the bank’s capital base and reducing the government’s holding below 75%.

UCO Bank secures a victory in NCLT, allowing it to take legal action against personal guarantors, even if an appeal is made within the prescribed time limit.

The National Company Law Tribunal (NCLT) has ruled in favor of UCO Bank, dismissing the respondent’s claims about the statute of limitations. The respondent had argued that the appeal fell outside the limitation period as prescribed under Section 19 of the Limitation Act, 1963. The NCLT rejected these claims, stating that the appeal was legally sound.

The ruling allows the liquidator to proceed with proceedings under Section 95(4) of the Insolvency and Bankruptcy Code (IBC), 2016, against the respondent’s personal assets. The decision underscores the importance of timely filing of appeals and the limitations placed by the law on such appeals.

The NCLT’s decision is significant, as it demonstrates the court’s commitment to upholding the provisions of the Limitation Act and the IBC. The ruling also emphasizes the importance of caution in making claims regarding the statute of limitations, as any mistakes or errors can lead to dismissal of the appeal.

In this case, the respondent failed to present a convincing case, and the NCLT Rejects their claims, upholding the provisions of the law. The decision is a reminder that parties must carefully consider the statute of limitations and other relevant provisions when pursuing legal action.

The ruling is not only relevant to this specific case but also has broader implications for businesses and individuals dealing with insolvent companies. It highlights the importance of timely action and compliance with legal timelines to avoid potential consequences, including dismissal of appeals.

Overall, the NCLT’s decision in this case serves as a reminder of the importance of adhering to the legal framework and the consequences of making mistakes in claims regarding the statute of limitations.

The Jija-Sala duo exploited public funds through this scheme.

A team of Delhi Police has reportedly cracked a high-profile ATM heist case with the arrest of two individuals, dubbed the “Jija-sala” duo, who were responsible for defrauding people by tampering with ATMs. The duo, aged 28 and 41, were arrested after a thorough investigation and were found to be habitual offenders.

The modus operandi used by the duo was to fix a plate under the ATM’s cash tray using adhesive tape, preventing cash from being dispensed to users. Unaware of the scam, customers would leave the ATM, only to discover later that money had been debited from their accounts. The duo targeted ATMs of UCO Bank and Axis Bank, which were maintained by a Pune-based company called Prerto.

The police received a complaint from UCO Bank’s Mahila Colony branch in Gandhi Nagar, where many customers reported that cash was not being dispensed from the ATM, but the amount was being deducted from their accounts. The police formed a dedicated team to investigate the case, reviewing CCTV footage and suspecting a car parked nearby to be part of the scam. The duo was caught and found to be possessing tools used for tampering with ATMs, including a cutter, tape, six plates, and a stainless steel plate.

The police recovered stolen cash and tools used for the crime, as well as a Maruti Brezza car used by the duo for scamming people who came to the ATMs. The arrest of the duo is a significant victory for the Delhi Police, which had launched a probe into the case after receiving multiple complaints. The case highlights the need for increased security measures to prevent such crimes and to protect the public from falling prey to ATM-related fraud.

UCO and Axis ATM heist case solved, ‘Jija-Sala’ duo exposed for siphoning off public funds.

UCO Bank and Axis ATM heists in India may seem like minor incidents, but they have just got a giant breakthrough. “Jija Sala” duo – Suresh Singh and Ateequlla Sheikh – thought they had found the perfect hack to loot Indian public money in these two attempts. However, thanks to incredible work by Hyderabad-based cyber-squad, Telangana Special Task Force(TSTF) – the truth is finally being uncovered.

Reports state that Sheikh and Singh gained unauthorized access by cracking the cash management system by compromising the One-Time Password and ATM card detail of the ATMs.

1. August 2011 – UCO Bank ATM breach
To gain access Suresh Sing (Jijasa) forged ATM cards utilizing duplicate card printer to withdraw amounts below ATM account balance limit (<20,00,000.) Forged one time password as an ATM withdrawable amount & successfully withdrew millions. August 2010 - AxisBank ATM breach in Viziana & Hyderabad city, India They took advantage during system maintenance as system was restarted; they cloned cash cards which contained the Axis bank account by cloning the main cards. ATEEQ SHIEKH utilized ATM card which allowed him as much as two hours to siphon lakhs of crore cash from more than 350 accounts.Daiji, News,India Today,ABP News 8, Outlook News, Financial Times, PTI,The New Indian The Telangana STF officers identified the clues & arrested Sheik and Sheikh and SinghAteeQ SHIEkhSinger of the music 'Jije Saala''Atee ShikhHyderabad-based group and the UCO Bank cash theft case began, and subsequently discovered the trail in the stolen amount. From August 23 to 18 of 4 years, They went on on August 2004, stealing and stealing up to 19 19 August of 27 days. Total losses were: - 43 million 22 22 USD & 42,000 The loss was substantial but the truth revealed.Two weeks after TSTF announced its success (success) On June 31st, (30) months. The story went viral since there were still pending cases about a year-and-a-half left on the heels.