KOLKATA: With Uco Bank facing severe stress in terms of crucial banking parameters, its employees associations have vowed to play catalyst in the bank's turnaround plan and urged their members to work harder. They have decided to "adopt" branches which are under performers and guide them to the path of team work. The fractions of the Uco unions have formed a united forum to take this effort forward. "We the employees of Uco Bank have huge task, tough challenges and heavy responsibilities of working together to place our bank to its prime position," said S Roy Choudhury, convenor of the joint forum.Reserve Bank of India placed Uco Bank under its prompt correction action plan in June last year and put restrictions on lending, branch expansion and distribution of profit among shareholders. The bank reported Rs 1286 crore of net losses for the first half of this fiscal while its gross non performing ( NPA ) ratio slipped to 19.7%.

Source: Economic Times January 07, 2018 13:39 UTC