Arun Kaul

The CBI has registered a case against Arun Kaul, former chairman-cum-managing director of UCO Bank, and two private companies and their directors and some chartered accountants for allegedly cheating the public sector bank of Rs 737 crore.

The CBI and ED are investigating cases against half-a-dozen managing directors and CEOs of commercial banks. Separately, the CBI has sought prosecution of over 800 public sector bank employees, including presidential appointees such as chairmen, MDs and executive directors of state-run entities since 2017. In at least 139 cases, the government had declined request for prosecution.

New Delhi, May 6 () The Enforcement Directorate has registered a case of money laundering in connection with an alleged Rs 621-crore loan fraud involving UCO Bank, officials said today.

New Delhi, Apr 16 () UCO Bank shares fell over 6 per cent today as CBI booked its former chairman-cum-managing director Arun Kaul and others allegedly for a Rs 621-crore loan fraud. The bank's market capitalisation got eroded by Rs 1,256.95 crore to Rs 3,901.79 crore.

New Delhi, Apr 16 () Shares of UCO Bank plunged nearly 18 per cent in morning trade after the CBI booked Arun Kaul, former chairman-cum-managing director of the lender, and others in connection with an alleged Rs 621-crore loan fraud.

The share prices of UCO Bank plunged 14 per cent, to Rs 19.15 on the Bombay Stock Exchange (BSE) in today’s early morning trade after there were reports stating that the Central Bureau of Investigation (CBI) has booked former chairman-cum-managing director Arun Kaul and several others of the UCO Bank in connection with an alleged Rs 6.21 billion loan fraud.

Arun Kaul and his wife Suruchi have vowed to change the life of Komal, a Class IX student struggling to pursue her studies owing to her family's weak financial condition.

The state-level bankers' committee (SLBC) on Monday fixed the target for priority sector finance under annual credit plan (ACP) for Odisha in 2014-15 at Rs 40,000 crore, a media release said.

Reserve Bank of India (RBI) governor D Subbarao heard grievances against UCO Bank during his visit to Bhadrak's Jalanga village on Friday.

Union minister for law and justice D V Sadananda Gowda said the launch of Prime Minister Narendra Modi’s pet social security schemes is a testimony to the fact that the NDA government is with the poor and the middle-class.

Sports Utility Vehicle (SUV) manufacturer Mahindra & Mahindra (M&M) on Friday signed a preferred financier agreement for commercial vehicles with the public sector UCO Bank.

Raghuram Rajan headed search panel has zeroed in on a successor to RBI deputy governor KC Chakrabarty and PNB chairman KR Kamath is believed to be top in the reckoning.

Bankers on Tuesday said the liquidity tightening measures announced by the RBI are temporary and hoped they will be rolled back once the rupee stabilises.

After months of dilly-dallying, the government appears to have finally decided on new chairmen for Canara Bank and Bank of Baroda, which are among the largest lenders in the country.

Net profit of UCO Bank in the first quarter of FY12 increased 12.42 per cent at Rs 292 crore as compared to Rs 260 crore in the same corresponding period last fiscal.

Several banks said on condition of anonymity that it makes no sense for a banker to get fingers burnt again by lending to a borrower that is losing huge sums of money every month.

After sitting on the files for the last six months, the finance ministry on Wednesday cleared the appointments of eight CMDs and 12 executive directors of government-owned banks.

The Reserve Bank of India on Friday increased mandatory cash reserve of banks held by it by 75 basis points in a bid to suck excess liquidity to combat rising inflation.