UCO Bank board to discuss share issue to government on 9 February
New Delhi: Public sector UCO Bank on Saturday said its board will meet on 9 February to discuss issuing equity shares to the government in lieu of capital infusion of Rs5,132 crore.
In a BSE filing, UCO Bank said the government has said it will infuse Rs6,507 crore into the lender in current fiscal to improve capital adequacy. This includes Rs1,375 crore capital already received on 29 December 2017.
“The board of the bank will consider the proposal for issue of equity share on preferential basis to Government of India against the proposed additional capital infusion of Rs 5,132 crore in the ensuing meeting scheduled to be held on February 9,” it said.
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