News for UCO Bank (UCOBANK.NS)

MTNL Loan Default: Late on Saturday last week, MTNL said it had defaulted on loan repayments of more than ₹8,346 crore to multiple banks led by Union Bank of India. State-owned Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab & Sind Bank and Indian Overseas Bank are also creditors of the company, according to the disclosures.

Amidst market volatility, high beta stocks experienced steeper declines, with many falling significantly from their peaks. Low beta stocks demonstrated greater resilience, declining less on average. Factors like global trade tensions, FII selling, and concerns over corporate earnings have contributed to market wobbles. However, recent FII buying and expectations of India's economic outperformance offer some tailwinds.

MTNL defaults on bank loans worth ₹8,346.24 crore; Adani Ports acquires Australian coal terminal; BHEL posts revenue growth.

Infosys Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Adani Ports and Special Economic Zone Ltd., Kolte-Patil Developers Ltd. and GAIL (India) Ltd. will be among the stocks in focus before going into trade on Monday. Divi’s Laboratories, Zydus Lifesciences and Tata Consultancy Services will be some of the other stocks to watch before going into trade on Monday.

MTNL defaults on Rs 33,568 crore debt, including bank loans and sovereign guarantee bonds, as per regulatory filing.

"The total outstanding principal amount stands at Rs 7,794.34 crore, while the interest due is Rs 482.97 crore," MTNL said in its filing.

Finance Minister Nirmala Sitharaman to review progress of 'One state-one RRB' consolidation on May 6.

PSU banks have rebounded, delivering up to 23% returns in a month, driven by RBIs rate cut stance and improving asset quality. Experts see further upside, with stocks like SBI, BoB, and Canara Bank showing strong potential.

Lenders led by Union Bank of India are set to auction the Rs 700 crore debt owed by Sahara Star Hotel after the insolvency plea was rejected. Banks are seeking all-cash bids after the offer from National Asset Reconstruction Company was deemed too low.

Indian Overseas Bank on Friday reduced its repo-linked lending rate, or RLLR, by 25 basis points. The bank's existing RLLR for lending was 9.10%, and has been slashed to 8.85%, according to an exchange filing on Friday. The revised EBLR will be effective from Saturday, April 12.

RBI/2025-26/25 FIDD.CO.LBS.BC.No.05/02.08.001/2025-26 April 11, 2025 The Chairman / Managing Director & Chief Executive Officer Lead Banks concerned Madam/...

Banks are set for a muted Q4FY25 due to slower loan growth and NIM pressure. Analysts expect modest earnings, stable asset quality, and elevated credit costs. Private banks may outperform PSU peers. Stock selection should favour strong franchises with liquidity buffers as rate cuts further squeeze margins.

UCO Bank and Karur Vysya Bank Ltd. on Wednesday reduced its repo-based lending rate or RBLR by 25 basis points and 30 basis points respectively after the Reserve Bank of India cut its repo rate.

The Reserve Bank of India cut the benchmark repo rate by 25 basis points to 6%, prompting banks to lower interest rates for home, auto, and small business loans. This marks a 50 basis points reduction in 2025, including a February cut. The move benefits new borrowers and those with loans linked to external benchmarks like the repo rate.

Banks cut interest rates on loans after RBI reduces repo rate, likely to boost demand for loans and economic growth.

Bank of India and UCO Bank have reduced their lending rates by 25 basis points following the RBI's policy rate cut. Bank of India's new Repo Based Lending Rate (RBLR) is 8.85%, down from 9.10%, effective immediately. UCO Bank's rate is now 8.8%, effective Thursday. Other banks are expected to follow suit with similar rate cuts.

Data from ACE Equity shows Bajaj Finance is the top performer in finance and banking space with a robust 29% YTD return till April 8, 2025

The finance ministry is set to consolidate 15 Regional Rural Banks across 11 states starting next month, aiming for enhanced operational efficiency and cost reduction. This fourth consolidation phase will reduce the number of RRBs to 28 from 43. The amalgamation, effective May 1, 2026, will create 'one state-one RRB' in states like Uttar Pradesh, West Bengal, and others.

Data from ACE Equity reveals that both the BSE Sensex and BSE500 fell by 6% during the first five trading sessions of April. Meanwhile, select companies from the BSE500 index witnessed stock price declines of up to 41%