The Kolkata-based moneylender has an unobtrusive capital sufficiency proportion of 9.8 for every penny against the absolute minimum of 9 for every penny and in this manner it to needs accumulate cashflow to enhance the basic degree.
UBI said it plans to raise up to Rs 1,000 crore either by second open issue or rights issue of shares or by position of shares to qualified institutional financial specialists. It might likewise raise up to Rs 300 crore of crisp value from Life Insurance Corporation of India and an alternate Rs 275 crore from the legislature by changing over existing never-ending non combined inclination offers (PNCPS).
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This is relied upon to support its capital sufficiency and to make space for credit development. UBI has gained shareholders nod for this proposed capital raising activity.
"We are cheerful that we will have the capacity to satisfy the desires of our shareholders in this budgetary year and get them sought profits for their venture," bank official executive Sanjay Arya told shareholders at the bank's fifth yearly general gathering on Saturday.
The bank is battling one of its hardest fights in the wake of making an amazing Rs 1,238 crore misfortune in the December 2013 quarter by virtue of soak climb in sticky advances. The level 1 capital degree went 45 premise focuses beneath the administrative level of 6 for every penny at the end of December constraining the bank to press giving exercises.
It has centered exclusively on recuperation of advances from that point and turned around with Rs 469 crore net benefit in the March quarter and enhanced capital sufficiency degree to 9.8 for every penny under Basel III tenets. The level 1 capital proportion enhanced to 6.54 for every penny.
This has provoked Reserve Bank of India to loose the boycott on UBI's loaning control over Rs 10 crore and permitted it to loan up to Rs 200 crore to `triple An' or safe PSU and corporate borrowers.
The area controller has advised UBI to keep credit-store degree at a most extreme of 70 for every penny and cashflow to hazard holdings proportion ( CRAR) not underneath 9 for every penny.
The bank is reporting its advancement to the RBI consistently.
UBI said it plans to raise up to Rs 1,000 crore either by second open issue or rights issue of shares or by position of shares to qualified institutional financial specialists. It might likewise raise up to Rs 300 crore of crisp value from Life Insurance Corporation of India and an alternate Rs 275 crore from the legislature by changing over existing never-ending non combined inclination offers (PNCPS).
SBI is recruiting, find here SBI Recruitment 2014 details
This is relied upon to support its capital sufficiency and to make space for credit development. UBI has gained shareholders nod for this proposed capital raising activity.
"We are cheerful that we will have the capacity to satisfy the desires of our shareholders in this budgetary year and get them sought profits for their venture," bank official executive Sanjay Arya told shareholders at the bank's fifth yearly general gathering on Saturday.
The bank is battling one of its hardest fights in the wake of making an amazing Rs 1,238 crore misfortune in the December 2013 quarter by virtue of soak climb in sticky advances. The level 1 capital degree went 45 premise focuses beneath the administrative level of 6 for every penny at the end of December constraining the bank to press giving exercises.
It has centered exclusively on recuperation of advances from that point and turned around with Rs 469 crore net benefit in the March quarter and enhanced capital sufficiency degree to 9.8 for every penny under Basel III tenets. The level 1 capital proportion enhanced to 6.54 for every penny.
This has provoked Reserve Bank of India to loose the boycott on UBI's loaning control over Rs 10 crore and permitted it to loan up to Rs 200 crore to `triple An' or safe PSU and corporate borrowers.
The area controller has advised UBI to keep credit-store degree at a most extreme of 70 for every penny and cashflow to hazard holdings proportion ( CRAR) not underneath 9 for every penny.
The bank is reporting its advancement to the RBI consistently.
