Govt may consider infusing capital into United Bank of India

India may consider infusing capital into stressed state-run lender United Bank of India (UBI), local television channels reported on Wednesday citing banking secretary Rajiv Takru.

There is no systemic risk to Indian banks from Kolkata-based UBI, he was quoted as saying by the channels.

Last week, UBI said its net loss in the October-December quarter widened to 12.4 billion rupees from nearly 5 billion in the preceding quarter.

On Tuesday, ratings agency Fitch said UBI was at risk of becoming the first lender in Asia to breach the minimal capital ratios mandated by Basel III norms after the small lender posted a net loss and said bad debts increased.

EDITORIAL OF THE DAY

  • No ifs and buts, please, in India’s engagement with Iran

    Some foreign policy purveyors in this country have for long insisted that India does not leverage its civilisational connections as it should or is ca

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Taslima Nasreen

Hate in the time of bhaijaan

A few days ago I went to watch Bajrangi Bhaijaan, ...

Purnendu Ghosh

Death reveals the true colours of life

Death is instantaneous but it comes progressively. Some say, death ...

Gautam Gupta

Our fashion schools need to notch it up

"Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture