UCO Bank is planning to raise Rs 3,000 crore this fiscal and turn profitable by FY19. The turnaround plan will be finalised within a week. The Reserve Bank of India’s (RBI) directive to UCO Bank to take prompt corrective action (PCA) could impact the lender’s fund-raising plans. PCA means strictures on lending and branch expansion, change in management and reduction in assets in order to improve the financial health of the bank.
UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers wide range of services includes Personal Banking, Corporate Banking, International Banking, Rural Banking and other services.
