UCO Bank to Launch 45-day Loan Carnival


UCO Bank to Launch 45-day Loan Carnival

Sitting on a cash pile and after recovering ₹800-900 crore from four stressed accounts, state-owned UCO Bank has announced a “loan carnival” that will seek to disburse ₹4,000 crore of retail and enterprise loans in the next 45 days. 

“We are sitting on huge liquidity. The loan carnival will help us use this fund effectively,” MD, UCO Bank, AK Goel said.

The bank has set a target of ₹2,700 crore retail loan disbursement under the overall plan and is focusing on home loans, car loans and gold loans to achieve this. 

The balance ₹1,300 crore will be lent to micro, small and medium enterprises (MSMEs).

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