The Reserve Bank of India (RBI) has removed UCO Bank from its Prompt Corrective Action Framework (PCAF) following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.
On a review of the performance of the UCO Bank, the Board for Financial Supervision on the basis of the published financial results for 2020-21 found that the bank was not in breach of the PCA parameter.
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.