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Business News/ Market / Stock-market-news/  UCO Bank shares fall on report of forensic audit
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UCO Bank shares fall on report of forensic audit

Shares of public sector UCO Bank fell as much as 8.39% to Rs90.10

“The government has ordered a limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out irregularities, if any, in sanction of loans”, the report had said. Photo: Indranil Bhoumik/Mint Premium
“The government has ordered a limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out irregularities, if any, in sanction of loans”, the report had said. Photo: Indranil Bhoumik/Mint

Mumbai: Shares of UCO Bank fell as much as 8.39% to 90.10 on Wednesday morning after Press Trust of India reported that the government has ordered a forensic audit at the state-owned lender.

At 10.13am, UCO Bank lost 7.42% at 91.05 on BSE, while India’s benchmark Sensex gained 0.48% to 26,569.85 points.

“The government has ordered a limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out irregularities, if any, in sanction of loans," the report had said.

The government has recently ordered forensic audits in three state-owned banks — Syndicate Bank Ltd, Oriental Bank of Commerce and Dena Bank — after the chairman and managing director of Syndicate Bank was arrested on charges of extending credit in return for bribes.

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Published: 27 Aug 2014, 11:19 AM IST
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