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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Tighter disclosure norms will help public shareholders

    The Securities and Exchange Board of India (Sebi) has proposed changes in listing agreements between companies and stock exchanges, laying down manage

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Why UGC must focus on quality

In a vast country like India, where there are pressures ...

Rajgopal Nidamboor

The sum total of our conscious experience

All of us epitomise a multiplicity of conscious thoughts. This ...

Gautam Gupta

Don’t let success kill the essence of the concept

In 1999 when my mother started her own label, we ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture