UCO Bank has received its board’s approval for infusion of Capital funds in the Bank by the Government of India (GoI), to the tune of Rs 681 crore during FY 2012-13, by way of preferential allotment of equity shares to the GoI.
The issue price may be determined in accordance with SEBI (ICDR) Regulations 2009. The proposal is subject to necessary regulatory approvals.
The government has approved infusion of Rs 12,517 crore in around 10 state-owned banks by March. Last fiscal, the government pumped in about Rs 12,000 crore additional in public sector banks as against Rs 20,117 crore in 2010-11.
