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

  • Protocols need to be quickly put in place for the success of Digital India

    The government has kicked off Digital India initiative in style. Companies too have queued up in large numbers with bagfuls of money.

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

Simon J Evenett

Will Germany be able to deliver?

The BRICS aren’t the only countries whose stature has grown ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture