Finance/Money

RBI’s PCA (Prompt Corrective Action) withdrawn from UCO Bank

The bank also reduced interest rates on health products, home loan (6.50%), car loan (7.25%) and in MSME sector (7.20%).

Surat, Gujarat [India], December 15: The PCA (Prompt Corrective Action) imposed on UCO Bank by the RBI for a long time has now been lifted. This was stated by the Executive Director of UCO Bank during his visit to Surat on November 8, 2021. He met with customers and staff of UCO Bank and also praised Surat Zone.

Ajay Vyas, Executive Director, of UCO Bank, said that the long-running RBI’s PCA (Prompt Corrective Action) which was imposed on UCO Bank has now been withdrawn. He further said that UCO Bank’s profit has increased and the bank is in a very good position.

UCO Bank offers a wide range of new products tailored to the needs of the people, such as health products, home loan and Interest rates on car loans have been reduced as well as the interest rate on MSME sector (7.20%) has been kept to a minimum.

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