News for UCO Bank (UCOBANK.NS)

Atul Kumar Goel appointed as Chief Executive of Indian Banks’ Association, with extensive banking experience in top institutions.

Maharashtra State Road Development Corporation has secured funding commitments of 215 billion rupees from lenders for a road project near Mumbai. The key lenders include Rural Electrification Corporation, National Bank for Financing Infrastructure and Development, and India Infrastructure Finance Company Ltd. The road construction is set to start in the next financial year.

AIBOA demands halt to disinvestment, merger of Nainital Bank, adequate recruitment, and 5-day week in banking industry.

The two banks which recently added to the list are Tamilnad Mercantile Bank (included on March 5, 2025) and IDFC First Bank which got added on Nov 27, 2024. Another bank which added to the list is Dhanlaxmi Bank on June 26, 2024.

Nifty PSU Bank outperformed the Nifty 50 on Thursday, rising by 0.74% compared to the benchmark’s marginal gain of 0.13%. This rally in PSU Bank stocks followed the Reserve Bank of India’s announcement of enhanced liquidity measures.

Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.

After the RBI repo rate cut, banks such as SBI, Canara Bank, PNB, and Union Bank among others have cut their repo linked lending rates. Most other banks are also expected to cut their lending rates in line with the RBI rate cut.

State-run banks will present a strategic road map for capital-raising and expansion plans for FY 2025-26 to 2027-28 next month. The government plans to assess these projections to determine the timing and extent of its stake reductions in the banks, focusing on enhancing strategic capabilities like GenAI systems.

Investors eagerly eye public sector bank shares amidst government divestment plans and market volatility, anticipating strong growth potential.

Local merchant banks are likely to compete fiercely for arranging future government stake sales in public sector banks and listed financial institutions, despite low fees. This competition creates future opportunities. Foreign banks may also participate, though limited fees and stretched staff may deter them. Private and public sector banks, alongside brokerage-led institutions, are expected to pursue these mandates.

In February 2025, six banks adjusted senior citizen fixed deposit rates, offering up to 9.1% amid a 0.25% RBI repo rate cut. This move affects deposits under Rs 3 crore, impacting post-retirement finances.

The Nifty PSU Bank index, which consists of 12 state-owned bank stocks, dropped 1%, led by SBI, BoB, PNB, BoI, and Canara Bank.

India is seeking bids for merchant bankers and legal advisers to manage the sale of the government's minority shares in public sector banks such as Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank. This move aims to comply with market regulations requiring at least 25% public shareholding.

Govt seeks merchant bankers, legal firms to cut stake in public sector banks, financial institutions

PSU bank stocks have fallen up to 34% in a year, facing deposit market share loss, weak margins, and competition from private banks. Despite strong earnings, analysts favor large private banks over PSU lenders.

Despite RBI’s measures, liquidity has stayed in deficit since mid-December. After peaking at ₹3.3 trillion on 23 January, deficit cooled to ₹2.1 trillion as on 20 February, Bloomberg data showed.

Evaluating your financial capability before securing a car loan is crucial to avoid cash flow disruptions. Here is a comparison of the interest rate of car loans and the corresponding EMIs for a loan amount of Rs 5 lakh with a repayment tenure of 5 years across different banks in India.

Bandhan Bank, UCO Bank, Natco Pharma, Ircon International Ltd, IRCTC, ACC, BEML, Titagarh Rail Systems and Tanla Platforms were among BSE MidSmallcap 400 companies hitting their 52-week lows today.

MCLR is the minimum interest rate, or the floor rate, that banks can charge on loans. MCLR rates are not linked to external benchmarks like the repo rate. MCLR rates vary for different tenures - overnight, one, three, six months, and a year. They are reset every month.