UCO Bank

Aug 19 (Reuters) - UCO Bank UCBK.NS:

• BOARD TO CONSIDER FOREIGN CURRENCY FUND RAISING VIA MTN ON AUGUST 24, 2026

Source text: ID:nBSE8MVt7D

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, Aug 5 (Reuters Breakingviews) - India's toughest fiscal challenge in years will bring out New Delhi's dealmaking side. The government is raising 314 billion rupees, or $3.3 billion, by trimming its stake in Life Insurance Corporation LIFI.NS. The proceeds will help shore up the war-battered public balance sheet and inspire similar sales.

New Delhi is offering up to a 6.5% stake in LIC to institutions and retail investors at 382 rupees a share. The deal values the country's largest life insurer by premiums at an 11% discount to the stock's last-traded price, which isn't too steep considering volatile market conditions and fierce competition in the sector.

The latest divestment is part of a government push to raise 800 billion rupees in capital for the fiscal year ending March 2027. Along with share sales in other companies like $27 billion miner Coal India COAL.NS and hydropower producer NHPC NHPC.NS, combined proceeds are on track to top 526 billion rupees, roughly two-thirds of the 12-month goal.

As war rages on in the Middle East, that will offer some fiscal cushion to Prime Minister Narendra Modi's government, which is grappling with rising oil prices. Revenue collections have turned lacklustre too, after cuts to indirect tax rates. Concern that his administration will breach a fiscal deficit target of 4.3% of GDP for the current year is mounting. Higher fertiliser subsidies and debt servicing costs may ultimately widen the deficit by an additional 0.3% of GDP, analysts at ANZ warn.

That risk should prompt officials to accelerate deals. Last year, Goldman Sachs was hired to manage stake sales in four state-owned lenders, including narrowly held UCO Bank UCBK.NS and Punjab and Sind Bank. The government could also revive the process to find a new owner for LIC-backed IDBI Bank IDBI.NS, which received fresh bids from Canada's Fairfax and Abu Dhabi's Emirates NBD last month, per a Reuters report citing sources.

Fiscal pressure will force New Delhi to be more aggressive and creative.

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CONTEXT NEWS

The government of India on August 4 launched an offer for up to 822 million of its shares in Life Insurance Corporation, representing an up to 6.5% stake in the insurer.

The offer priced at 382 rupees ($4.01) per share, an 11% discount to their last-traded price, opened for bidding by institutions on August 4 and will accept retail subscriptions on August 5.

(Editing by Robyn Mak; Production by Ujjaini Dutta)

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July 27 (Reuters) - UCO Bank UCBK.NS:

• FITCH: ASSIGNS FIRST-TIME 'BBB-‌' IDR TO INDIA'S UCO BANK; OUTLOOK STABLE

Source text: [ID:]

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July 22 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK Q1 NET PROFIT 6.56 BILLION RUPEES

• UCO BANK Q1 GROSS NPA 2.08%

• UCO BANK Q1 INTEREST EARNED 69.96 BILLION RUPEES

• UCO BANK Q1 PROVISIONS AND CONTINGENCIES 2.35 BILLION RUPEES

• UCO BANK Q1 PROVISIONS FOR NPA 2.54 BILLION RUPEES

Source text: [ID:]

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July 14 (Reuters) - Tata Motors Ltd TATM.NS:

• TATA MOTORS AND UCO BANK PARTNER FOR COMMERCIAL VEHICLE FINANCING - STATEMENT

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July 9 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - INCREASES ONE YEAR MCLR TO 8.80% EFFECTIVE JULY 10, 2026

Source text: ID:nBSE1M59r7

Further company coverage: UCBK.NS

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July 2 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - TOTAL ADVANCES UP 21.33% Y/Y AS OF JUNE 30

• BANK - TOTAL DEPOSIT UP 11.04% Y/Y AS OF JUNE END

Source text: ID:nBSE5vb1D2

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June 19 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - INDIA GOVERNMENT ASSIGNS ADDITIONAL CHARGE OF MANAGING DIRECTOR, CEO TO RAJENDRA KUMAR SABOO

Source text: ID:nNSE4kZFTV

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June 1 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - ASHWANI KUMAR CEASES AS MD AND CEO

Source text: ID:nNSE6WD1bG

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May 7 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - KEEPS ONE YEAR MCLR UNCHANGED

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May 5 (Reuters) - UCO Bank UCBK.NS:

• TAX DEMAND REDUCED FROM 14.73 BILLION RUPEES TO 48.6 MILLION RUPEES PLUS INTEREST AND PENALTY

Source text: ID:nBSEbtHjZq

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April 21 (Reuters) - UCO Bank UCBK.NS:

• TO CONSIDER BOND/CAPITAL RAISING PLAN

Source text: ID:nBSE45sMv7

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April 10 (Reuters) - UCO Bank UCBK.NS:

• MCLR RATES REMAIN UNCHANGED EFFECTIVE APRIL 10, 2026

Source text: ID:nNSE7QDR3Q

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April 6 (Reuters) - UCO Bank UCBK.NS:

• TOTAL DEPOSIT UP 11.22% Y/Y AS OF MARCH 31

• TOTAL ADVANCES UP 19.09% YOY AS OF MARCH END

Source text: ID:nBSErxbdB

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March 10 (Reuters) - UCO Bank UCBK.NS:

• KEEPS ONE-YEAR MCLR UNCHANGED EFFECTIVE MARCH 10

Source text: ID:nBSE4YZs38

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Feb 20 (Reuters) - UCO Bank UCBK.NS:

• RESERVE BANK OF INDIA IMPOSES MONETARY PENALTY ON UCO BANK FOR 3.9 MILLION RUPEES

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Feb 11 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - NOTICE OF STRIKE BY AIBEA, BEFI AND AIBOA

• UCO BANK - STRIKE MAY AFFECT FUNCTIONING OF BRANCHES AND OFFICES

Source text: ID:nBSEw8PMc

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Jan 2 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - TOTAL ADVANCES GREW 16.27% Y-O-Y AS OF DEC-END

• UCO BANK - TOTAL DEPOSITS GREW 10.71% Y-O-Y AS OF DEC-END

Source text: ID:nNSE52X7Sp

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Adds details in paragraphs 2-9

NEW DELHI, Sept 22 (Reuters) - The Indian government is planning to sell minority stakes in about half a dozen state-run companies, divestment secretary Arunish Chawla told television channel CNBC-TV18 on Monday.

Chawla did not disclose which companies will be considered for the sale of stakes, but Reuters has previously reported that India has plans to sell shares in five public sector banks including UCO BankUCBK.NS and Bank of MaharashtraBMBK.NS.

India also has to reduce its shareholding in the country's largest insurer, Life Insurance Corporation of India LIFI.NS, to meet the market regulator's minimum public shareholding norms.

Chawla said the government will make an initial public offering (IPO) of a state-run firm in the natural resources sector in the current financial year. The IPO could be of a state-run company or their subsidiaries, he added.

Chawla did not name the company, but ONGC ONGC.NS and NHPC NHPC.NS have been exploring listing of their green arms, ONGC Green Energy and NHPC Renewable Energy, respectively.

Minority stake sales and IPOs will help boost divestment proceeds for the government. India plans to raise 470 billion rupees through stake sales and asset monetisation in the current financial year through March 31, 2026.

India's receipts from dividends it receives from public sector companies would exceed its projected target, Chawla said. India has estimated 690 billion rupees ($7.83 billion) through dividends from state-run firms in the current financial year.

($1 = 88.1363 Indian rupees)

(Reporting by Nikunj Ohri, Editing by YP Rajesh & Shri Navaratnam)

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Aug 18 (Reuters) - Mahanagar Telephone Nigam Ltd (MTNL) MTNL.NS has defaulted on loan repayments worth 86.59 billion rupees ($990.48 million) to a group of seven public sector banks, the state-run telecom company said on Monday.

In July, MTNL had disclosed defaults of 85.85 billion rupees to the same lenders.

The default includes 77.94 billion rupees in principal and 8.65 billion rupees in overdue interest to lenders including Union Bank of India UNBK.NS, Bank of India BOI.NS, Punjab National Bank PNBK.NS and State Bank of India SBI.NS.

The debt-laden operator, which has long struggled with falling subscriber numbers, mounting losses and shrinking relevance in India’s highly competitive telecom market, has been surviving largely on government support and debt roll-overs.

MTNL’s total debt has risen to 345.77 billion rupees ($3.96 billion) as of July 31, from 344.84 billion rupees in June-end, which also includes sovereign-guaranteed bonds and loans from the Department Of Telecommunications.

($1 = 87.4225 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Janane Venkatraman)

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Aug 7 (Reuters) - UCO Bank UCBK.NS:

• ONE YEAR MCLR RATE AT 8.95%, EFFECTIVE AUG 10

Source text: ID:nBSE182MYy

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Aug 1 (Reuters) - Vakrangee Limited VAKR.NS:

• VORTEX SIGNS AGREEMENT WITH UCO BANK FOR 300 ATMS

• TOTAL CONTRACT VALUE 128.1 MILLION RUPEES

Source text: ID:nBSEbgjgSM

Further company coverage: VAKR.NS

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July 21 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - DOMESTIC NIM AT 3.18% FOR Q1

Source text: ID:nBSE582MLg

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BENGALURU, July 15 (Reuters) - India's Mahanagar Telephone Nigam MTNL.NS has defaulted on loans totaling 85.85 billion rupees ($1 billion), the public-sector telecom firm said on Tuesday.

The loans were made by seven public sector, with Union Bank of India UNBK.NS and Indian Overseas Bank IOBK.NS having the biggest exposure, MTNL said in an exchange filing.

($1 = 85.8860 Indian rupees)

(Reporting by Nishit Navin; Editing by Anil D'Silva)

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Adds more details from source, background in paragraphs 3-4

July 9 (Reuters) - Indian state-owned banks will raise around 450 billion rupees ($5.25 billion) through qualified institutional placement (QIP) of shares in the 2025-26 financial year, a government source told reporters on Wednesday.

State Bank of India SBI.NS, the country's biggest lender by assets, will launch its QIP soon, the source said. The bank had in May approved raising 250 billion rupees in equity capital this year.

The government will also complete its stake sale in IDBI Bank by October and also plans to sell shares in UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank in the financial year, the source added.

Prime Minister Narendra Modi's government laid out plans in this year's budget to raise 470 billion rupees through stake sales and asset monetisation.

India's finance ministry and SBI did not immediately respond to Reuters requests for comment outside office hours.

($1 = 85.6900 Indian rupees)

(Reporting by Nikunj Ohri in New Delhi; Writing by Chris Thomas; Editing by Shailesh Kuber)

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July 3 (Reuters) - UCO Bank UCBK.NS:

• TOTAL ADVANCES AS ON JUNE 30 UP 16.58% Y/Y

• TOTAL DEPOSIT AS ON JUNE 30 UP 11.57% Y/Y

Source text: ID:nBSE9LpRWF

Further company coverage: UCBK.NS

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June 6 (Reuters) - UCO Bank UCBK.NS:

• UCO BANK - ONE YEAR MCLR REVISED TO 9% EFFECTIVE 10.06.2025

Source text: ID:nNSE6gtPz1

Further company coverage: UCBK.NS

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April 9 (Reuters) - UCO Bank UCBK.NS:

• REVISES ONE YEAR MCLR TO 9.10%, WEF APRIL 10

Source text: [ID:]

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March 27 (Reuters) - UCO Bank UCBK.NS:

• APPROVES CLOSURE OF QIP ISSUE PERIOD

Source text: ID:nBSE9DgGvj

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