Cabinet nod to capital restructuring of UCD Bank

New Delhi, Oct 31 (UNI) The Union Cabinet has given approval for the restructuring of Kolkata-based UCO Bank, providing for the conversion of Rs 250 crore equity capital into perpetual non-cumulative preferential shares.

''The UCO Bank has an equity base of Rs 799.36 crore, which is the highest. So equity capital worth Rs 250 crore will be converted into perpetual non-cumulative preferential shares,''Finance Minister P Chidambaram said here today, briefing reporters on last evening's Cabinet meeting.

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