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UCO Bank

BSE Code : 532505 | NSE Symbol : UCOBANK | ISIN:INE691A01018| SECTOR : Banks |

NSE BSE
 
SMC down arrow

11.30

-0.05 (-0.44%) Volume 280564

07-May-2021 EOD

Prev. Close

11.35

Open Price

11.45

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

11.30(3846)

 

Today’s High/Low 11.50 - 11.25

52 wk High/Low 16.70 - 10.70

Key Stats

MARKET CAP (RS CR) 11197.81
P/E 112.9
BOOK VALUE (RS) 17.2237665
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0.1
PRICE/BOOK 0.655489610823509
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 40.72
4

News & Announcements

07-May-2021

UCO Bank - UCO Bank - Shareholders meeting

23-Apr-2021

UCO Bank - UCO Bank - Other General Purpose

12-Apr-2021

UCO Bank - Statement Of Investor Complaints For The Quarter Ended March 2021

09-Apr-2021

UCO Bank - Notice Of EGM To Be Held On 7Th May, 2021

08-Apr-2021

UCO Bank schedules EGM

02-Apr-2021

UCO Bank receives capital infusion of Rs 2600 cr from GoI

01-Apr-2021

UCO Bank to hold board meeting

31-Mar-2021

UCO Bank receives capital infusion of Rs 2600 cr from GoI

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
Allahabad Bank(Merged) 532480 ALBK
Andhra Bank(Merged) 532418 ANDHRABANK
Bank of Baroda 532134 BANKBARODA
Bank of India 532149 BANKINDIA
Bank of Maharashtra 532525 MAHABANK
Canara Bank 532483 CANBK
Central Bank of India 532885 CENTRALBK
Corporation Bank(Merged) 532179 CORPBANK
Dena Bank(Merged) 532121 DENABANK
Indian Bank 532814 INDIANB
Indian Overseas Bank 532388 IOB
Oriental Bank of Commerce(Merged 500315 ORIENTBANK
Punjab & Sind Bank 533295 PSB
Punjab National Bank 532461 PNB
State Bank of Bikaner and Jaipur(Merged) 501061 SBBJ
State Bank of India 500112 SBIN
State Bank of Mysore(Merged) 532200 MYSOREBANK
State Bank of Travancore(Merged) 532191 SBT
Syndicate Bank(Merged) 532276 SYNDIBANK
Union Bank of India 532477 UNIONBANK
United Bank of India(Merged) 533171 UNITEDBNK
Vijaya Bank(Merged) 532401 VIJAYABANK

Share Holding

Category No. of shares Percentage
Total Foreign 14775051 0.15
Total Institutions 157605714 1.59
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 9501941 0.10
Total Promoters 9367292970 94.44
Total Public & others 369164946 3.72
Total 9918340622 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About UCO Bank

UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers a host of value added banking solutions to their customers, which includes international banking services, services for NRIs, loan schemes, deposit schemes and value added e-banking solutions. They also possess a host of branches authorized for direct tax collection in India. The Bank has 34 regional offices spread all over India. UCO bank head office is located in Kolkata. The Bank has 34 Regional Offices spread all over India. The bank has international presence with four overseas branches in two important financial centers in Singapore and Hong Kong and representative offices at Kuala Lumpur, Malaysia and Guangzhou in China. The bank also has a NRI corner to offer specialized services to its international customers. UCO Bank was incorporated in the year 1943 as The United Commercial Bank Limited. In July 1969, the Bank was nationalized and 100 per cent ownership was taken over by the Government of India. Thereafter the Bank expanded rapidly. In December 30, 1985 the name of the Bank was changed to UCO Bank. During the year 2001-02, the Bank opened 1 new branch in Pune, and 5 new extension counters. During the year 2004-05, the Bank opened 4 new branches and upgraded 7 extension counters into full fledged branches. They also opened 6 new extension counters. During the year, one branch was merged and one extension counter was closed. The company also introduced Gold Card Scheme for exporters to facilitate easy availability of export credit at remuneration terms. During the year 2005-06, the Bank opened 9 new branches and upgraded 8 extension counters into full fledged branches. They opened 2 new extension counters and closed 5 extension counters. The Bank also opened one representative office in Kuala Lumpur in Malaysia. During the year, in terms of the Government directive the Bank had effected merger of three Regional Rural Banks in Bihar on September 9, 2005, two Regional Rural Banks in Orissa on January 2, 2006 and two Regional Rural Banks in Rajasthan on January 27, 2006. During the year 2006-07, the Bank opened 57 new branches, upgraded 53 extension counters into full fledged branches and merged the 15 extension counters with the base branches. They also started 4 flagship corporate branches and 9 mid corporate branches. In February 26, 2007, three Regional Rural Banks in the state of West Bengal were amalgamated and form a single entity named as Paschim Banga Gramin Bank. During the year 2007-08, the Bank opened 95 branches in which 66 branches were opened on January 6, 2008 to commemorate the 65th Foundation Day of the Bank. The Bank opened 40 new branches, 12 mid corporate branches, upgraded 55 extension counters into full fledged branches and merged the 13 extension counters with the base branches. During the year, the company converted two of their existing branches at Kolkata and New Delhi exclusively for catering to needs of senior citizens and named these branches as 'Senior Citizen branches'. In April 4, 2007, the Bank opened one representative office at Guangzhou in China. As at March 31, 2008 the Bank has 1957 branches, two representative offices, 21 mid corporate branches and 19 extension counters.

UCO Bank Chairman Speech

Dear Shareholders,

I place before you the highlights of your Bank's performance during the financial year 2019-20. Bank has improved its performance during the year by posting profit during the last quarter of the financial year 2019-20 after consequential losses for 17 quarters. Details of the achievements and initiatives taken by your Bank are provided in the enclosed Annual Report for the year 2019-20.

Economic Overview

Global economic activity during the year 2019-20 remained slow paced in both advanced economies and emerging market economies caused by sluggish consumer demand, prolonged trade tensions and wide ranging policy uncertainties. Raising tariffs, rapid shifts in trade policies resulted in dampening investment growth and deterioration of business confidence. Softening of demand weighed on global commodity prices, in particular crude oil and industrial metals. Amidst of all these, the world economy witnessed a muted growth of 2.9% in 2019 compared to 3.6% in the previous year.

Domestic economy also witnessed a moderate growth of 4.2% in FY 2020. The growth in last quarter of FY 2020 was largely impacted with outbreak of COVID -19. Some green shoots are, however, visible in agriculture. Low oil prices resulted in current account surplus despite slump in exports. Though the outlook of the economy remain very uncertain, economic activity is limping towards normalcy with people taking up activities by following safety norms. Industries could not still operate to its full capacity as the world is still battling with COVID-19.

Reserve Bank of India has taken series of measures to protect financial stability and arrest an economic meltdown resulted out of COVID 19 outbreak like reduction of reverse repo rate, provided special liquidity support to non-banking finance and microfinance companies, extension of moratorium on payment of interest and loan instalments, and facilitated increased emergency funding for state governments. As a relief measure, Central Government unveiled Rs.20 lakh crore Atmanirbhar Bharat package to boost various sectors of economy. Hopefully, these measures will surely minimise the impact of COVID 19 on economy and leave the country on growth path.

Bank's Performance

Bank has improved its performance by minimising losses as compared to the previous financial year. Bank has reduced its losses to Rs. 2,437 crore during FY 2020 as compared to Rs.4,321 crore in FY 2019. During the last quarter of the FY 2020, Bank has earned Net Profit of Rs. 16.78 Crore.

Operating Profit for FY 2020 is Rs.4,836 crore as against Rs.2,760 crore during FY 2019, thereby reflecting an increase of 75.22% .Total income registered a growth of 13.64 % from Rs.15, 844 crore in FY 2019 to Rs.18,006 crore in FY 2020. Cost of deposits has decreased from 5.07 % in FY 2019 to 4.90 % in FY 2020.Net interest income increased to Rs.5,092 crore in FY 2020 from Rs.4,311 crore in FY 2019.During the year Bank made provision of Rs. 7,272 crore against Rs.7,081 crore in FY 2019.

Global business of the Bank stood at Rs.3,08,165 crore as of 31.03.2020 compared to Rs.3,17,480 crore showing a decrease of 2.93% over March 2019. Global Deposits has decreased by 2.38% as of 31.03.2020 and stood at Rs.1,93,203 crore compared to Rs.1,97,907 crore as of 31.03.2019. Global advances fell by 3.86% and stood at Rs.1,14,961 crore compared to Rs.1,19,573 crore as of 31.03.2019.

The focus area for the year was increasing retail segment. Total Retail loan Portfolio of the Bank registered Y-o-Y growth of 12%. Home and Car (excluding pool) loans registered Y-o-Y growth of 14% and 16% respectively.

Domestic Investment of the Bank during the year 2019-20 increased by 11.05% from Rs.80,622 crore as on 31.03.2019 to Rs.89,532 crore as on 31.03.2020 largely due to allotment of recapitalization bond and purchase of Government securities.

During the Year 2019-20, the bank has registered a growth of 7.30% in interest income from domestic credit/ investments which stands at Rs. 13715.01 crore as on 31.03.2020 as compared to Rs. 12781.97 crore as on 31.03.2019 thereby registering a growth of Rs. 933.04 crore on y-o-y basis mainly due to increase in domestic credit/ investment portfolio . Asset quality of the Bank has been improved during the financial year 2019-20 backed by all round effort in management of non-performing assets. Gross NPA reduced to Rs. 19,282 crore as on 31.03.2020 from Rs. 29,888 crore as on 31.03.2019. The Gross NPA of the Bank dropped to 16.77% as on 31.03.2020 from 25% as on 31.03.2019. Our Net NPA has reduced to 5.45% as on 31.03.2020 from 9.72% as on 31.03.2019. Provision Coverage Ratio has increased to 85.46% as on 31.03.2020 from 74.93% as on 31.03.2019.

Capital Adequacy Ratio (CAR) under Basel lII stood at 11.70% and CET 1 at 8.98% as on 31.03.2020. Govt. of India infused Capital to the tune of Rs. 4272 crore during the FY 2020 and GOI holding stood at 94.44% as on 31.03.2020.

INITIATIVES TAKEN UP IN FY 2019-20

Initiatives for MSME growth

With a view to improve MSME Business and to reap the benefits of low cost of operations and expertise of NBFC Bank has tied-up with M/s Srei Equipment Finance Limited (SREI) on 17.02.2020 to offer Co-origination of loans for purchase of construction and mining, farm and medical equipment under a co-lending arrangement. iQuippo, a Kanoria Foundation initiative, will facilitate sourcing of loans under this programme.

Bank launched several schemes during the financial year for the benefit of MSMEs

•Scheme for financing Two Wheelers under MUDRA for the purpose of commercial use for the benefit of customers under MSME

•A special scheme for MSEs "UCO Vyapar Samridhi"was launched on 17/06/2019 where collateral free loans up to Rs.1 crore are sanctioned to MSEs including Retail Traders

•With a view to mitigate the liquidity crunch of MSMEs, a new scheme for MSME "Standby Line of Credit for MSME" has been introduced on 06.01.2020.

•The Bank has tied-up with RXIL and is trading at RXIL platform with effect from February 2019. Considering future business prospect under TReDS, Bank has also tied-up with M1xchange and Invoicemart on 14.11.2019 for discounting of bills at TReDS.

TECHNOLOGICAL INITIATIVES

ATMs/Debit Cards :

Bank has introduced UCASH (Cardless Cash Withdrawal) facility at all UCO Bank ATMs which can be used by our customers availing M-Banking facility. Bank has also introduced Cash@POS facility by which our Debit and prepaid card holders can avail cash withdrawal facility at POS/BC outlets. Bank is in the process of Installation of 400 new Passbook Printing Kiosks and 100 new Cash recycler Machines for ease of customers

M-banking :

Bank has launched new revamped Mobile Banking App mBanking plus with better user interface for customers including facilities like online PPF account Opening through mobile banking, 24x7 UPI services, generation of Virtual card for customers who have not availed physical debit cards, utility bill payments and recharges through BBPS, online Regeneration of FD receipt, facility for debit card issuance request/card activation, Request for call back service, enhanced security for debit cards through UCO secure with facility of enable/disable card, setting card limit and restricting international usage facility.

E-Banking

Bank has implemented new features like Account Statement on email allowing customers to get pdf format account statement, New debit card request & Cheque book request, online FD renewal and Nominee addition facility, Online application for availing Locker facility, seeding of PAN in account & submission of Form 15G/15H.

Customer Convenience

Bank provided facility for TDS certificate download through Digilocker. Bank has implemented Door Step Banking facilities for Senior Citizens and differently abled persons including those who are visually impaired. Bank also introduced Standing Instruction for payment in PPF account facility.

Call Centre (UCO SAMPARK)

Bank has introduced IVR based Phone Banking solution called "UCO SAMPARK" through toll free number 18002740123 to help customers to carry out various banking activities like Balance enquiry, Account Statement, Mini statements for last 5 transactions, PAN & Aadhaar link status, Blocking of Card, UPI services, Internet Banking facility etc. when dialed from their registered mobile numbers This facility is available in Hindi, English and ten (10) other regional languages.

Way Forward:

During the year 2019-20, Bank has taken several measures to increase retail & MSME segment and strengthen recovery segment. Several measures were also taken to improve customer convenience through technology and innovation. Bank has witnessed few green shoots by posting profit in the last quarter of the financial year 2019-20.

The way forward for FY 2020-21 is shift from survival to growth mode. Bank will continue its focus on containing slippages and reaching the Industry bench marks on advances and CASA growth.

Bank is in the process of introduction of Loan Originating System (LOS) to upgrade its appraisal techniques through technology driven end to end automation of loan appraisal system. Using LOS facility, customers will also be able to apply for loans through Bank's website and can avail the facilities like option of Branch selection while applying for Loan, tracking of the status of loan application and information on pendency reasons through e-mail/SMS. These processes will enhance transparency with priority of compliance over business. These improvements in processes will minimize the response time and ensures better asset quality.

Bank will focus on strengthening its customer reach techniques by tie up with few Fintech firms who are having expertise financial analytics. Bank will focus on Digital adoption in every area to meet the customer preferences in the fast changing world.

COVID 19 has disrupted economic activity of India and across the Globe. The situation continues to be uncertain and Bank is closely monitoring the same. Bank will continuously in touch with our borrowers and will provide financial support to the borrowers on merits.

I acknowledge and thank all the members of the Board for their valued support and guidance extended to the management in all the endeavors I also acknowledge the dedication and hard work shown by the employees of the Bank.

I look forward for continued support from all the stakeholders.

(A. K. Goel)

Managing Director &

Chief Executive Officer

   

UCO Bank Company History

UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers a host of value added banking solutions to their customers, which includes international banking services, services for NRIs, loan schemes, deposit schemes and value added e-banking solutions. They also possess a host of branches authorized for direct tax collection in India. The Bank has 34 regional offices spread all over India. UCO bank head office is located in Kolkata. The Bank has 34 Regional Offices spread all over India. The bank has international presence with four overseas branches in two important financial centers in Singapore and Hong Kong and representative offices at Kuala Lumpur, Malaysia and Guangzhou in China. The bank also has a NRI corner to offer specialized services to its international customers. UCO Bank was incorporated in the year 1943 as The United Commercial Bank Limited. In July 1969, the Bank was nationalized and 100 per cent ownership was taken over by the Government of India. Thereafter the Bank expanded rapidly. In December 30, 1985 the name of the Bank was changed to UCO Bank. During the year 2001-02, the Bank opened 1 new branch in Pune, and 5 new extension counters. During the year 2004-05, the Bank opened 4 new branches and upgraded 7 extension counters into full fledged branches. They also opened 6 new extension counters. During the year, one branch was merged and one extension counter was closed. The company also introduced Gold Card Scheme for exporters to facilitate easy availability of export credit at remuneration terms. During the year 2005-06, the Bank opened 9 new branches and upgraded 8 extension counters into full fledged branches. They opened 2 new extension counters and closed 5 extension counters. The Bank also opened one representative office in Kuala Lumpur in Malaysia. During the year, in terms of the Government directive the Bank had effected merger of three Regional Rural Banks in Bihar on September 9, 2005, two Regional Rural Banks in Orissa on January 2, 2006 and two Regional Rural Banks in Rajasthan on January 27, 2006. During the year 2006-07, the Bank opened 57 new branches, upgraded 53 extension counters into full fledged branches and merged the 15 extension counters with the base branches. They also started 4 flagship corporate branches and 9 mid corporate branches. In February 26, 2007, three Regional Rural Banks in the state of West Bengal were amalgamated and form a single entity named as Paschim Banga Gramin Bank. During the year 2007-08, the Bank opened 95 branches in which 66 branches were opened on January 6, 2008 to commemorate the 65th Foundation Day of the Bank. The Bank opened 40 new branches, 12 mid corporate branches, upgraded 55 extension counters into full fledged branches and merged the 13 extension counters with the base branches. During the year, the company converted two of their existing branches at Kolkata and New Delhi exclusively for catering to needs of senior citizens and named these branches as 'Senior Citizen branches'. In April 4, 2007, the Bank opened one representative office at Guangzhou in China. As at March 31, 2008 the Bank has 1957 branches, two representative offices, 21 mid corporate branches and 19 extension counters.

UCO Bank Directors Reports

I. MANAGEMENT DISCUSSION AND ANALYSIS

1. GLOBAL ECONOMY:

Global economy has grew at 2.9% in 2019 and projected to decline by (-) 3.0% in 2020 due to Covid-19. There is always an uncertainty around the global growth forecast because the economic fallout depends on uncertain factors which are hard to predict. These include outbreak of COVID- 19 pandemic worldwide. Considering the sporadic spread of the virus, most of the countries declared a total shutdown as a measure to counter the spread of virus. This has resulted in disruption of supply and production losses, affecting global financial market, shifts in spending pattern and volatile commodity prices. It is assumed that the Pandemic will fade away in the second half of 2020 and global economy is projected to grow by 5.8% in 2021 as economic activity resumes. As per IMF forecast, the real GDP of advanced countries will contract during the year 2020. The negative growth estimated for United States (-) 5.9%, Japan(-) 5.2% , UK (-) 6.5% , Germany (-) 7.0% , France (-) 7.2%, Italy (-) 9.1% and Spain (-) 8.0%.

Commodity Prices have decreased, food prices are projected to decrease by 2.6% in 2020 and thereafter increase by 0.4% in 2021. Global financial market remained extremely volatile because of trade conflict between US and China and a possibility of Brexit deal. Global trade Organisation sees global Merchandise Trade contracting by as much as 13-22 % in 2020. In currency market the US dollar weakened against major currencies. Most of emerging market currencies was strengthened.

2. Indian Economy:

India's economy stood at fifth largest in the world as measure using GDP at current US dollar. The size of the economy was estimated at $2.9 trillion in 2019. The Union Budget 2019-20 had articulated the vision of Hon'ble Prime Minister to make India a $5 trillion economy by 2024-25. The National Statistical Office (NSO) had estimated the growth of real GDP in 2019-20 at 4.2% as compared to 6.1% in 2018-19. The deceleration in growth rate from last year has been attributed generally to slowdown of manufacturing and services sector. On the demand side, the deceleration in GDP growth was caused by a decline in the growth of real fixed Investment.RBI forecasted India's GDP growth at 5% in 2020-21. IMF had projected growth to be 1.9% in 2020 and expected to post a sharp turnaround and resume its pre-COVID pre- slowdown trajectory growing at 7.4% in 2021-22.CPI inflation surged to 5.91% in March 2020 as compared to 2.86% in March 2019. Inflation during the first half of the fiscal was lower than second half because there was perceptible spike in food prices with notable increase seen in case of vegetable, pulses, Oils, Milk, Meat and fish. However, decline in Crude Oil prices will work towards easing inflationary pressure in the subsequent months. Due to COVID-19 outbreak becoming a global pandemic the inflation outlook of India is highly uncertain. With several major economic functions in lockdown mode, demand conditions may weaken sharply. Accordingly countries across the world may face deflation and India may not be immune to these extreme downside pressure imparted by the Pandemic. In the external sector, India's overall exports and import decelerated in 2019-20 due to domestic and global economic slowdown. Besides, trade disputes and outbreak of COVID-19 led to shut down since March,2020 in almost all states of the country. Export fell to $314.31 billion in 2019-20 from $330.08 billion. Imports also declined to $467.19 billion in 2019-20 against $514.80 billion in the previous year 2018-19. During 2019-20, merchandise trade deficit was $152.88 billion lower as compared to $ 184 billion in 2018-19. The budget estimate of fiscal deficit for 2020-21 has been set as 3.5% of GDP as compared to 3.8% in 2019-20 (Revised estimate).

Banking Sector Development:

In the 2020, 10 PSBs have been merged to churn out mega banks. The country will have a total of 12 PSBs. Systemic liquidity in 2019-20 has been largely in surplus since June 2019. Durable liquidity injection was undertaken through four open market operation (OMO) purchase auctions and buy/sell swap action, all conducted during first quarter of 2019-20. Statutory Liquidity Ratio has been reduced 25 bps each in four steps effective April 13, 2019. During the first half of 2019-20, the 10 year benchmark G-sec yield mostly softened. In the first quarter of 2019-20 initially from April to mid May 2019, 10 year benchmark yield hardened marginally on account of rise in crude oil prices,thereafter, largely followed a downward trend. In the early March, yield started with a softening in the new and old benchmark respectively. GNPA ratio of Scheduled Commercial Banks(SCB's)remained flat at 9.3% at the end of September 2019 .Growth of Bank Credit was 6.1 % (Y-o-Y basis ) as on 27th March 2020 as compared to 13.2% in the corresponding fortnight end of the previous year. Aggregate deposit of SCB's grew by 7.9 % (Y-o-Y) as on 27th March 2020 as compared to 10.0 % recorded during the corresponding fortnight end of the previous Year. RBI introduced external benchmark system in the banking sector on 1st October 2019 and released the new prudential framework for resolution of stressed assets and permitting onetime restructuring of existing loans to MSMEs classified as standard without a downgrade in Asset Classification. The INR remained volatile during second half of 2019-20 due to multiple factors including the high volatility in equity markets. Portfolio investment was severely impacted. Monetary transmission has been weakened in 2019 on account of rate structure, quantity of credit and term structure. The pass through of policy rate cut to the weighted average domestic term deposit rate on outstanding rupee deposit improved. RBI had reduced repo rates by five times in the year 2019 and reduced 135bps. During second half of 2019-20, liquidity management operations by the RBI were conducted in line with the revised liquidity management framework. Five long term repo operations(LTROs) were conducted during Feb -March, 2020 with a view to ensuring monetary transmission. Furthermore one targeted long term repo operations (TLTRO) was conducted in March to address the COVID-19 inducted pressure on financial conditions.In the Union Budget 2020-21 Finance Minister has announced to infuse about Rs. 3,50,000 Cr by way of capital into PSBs for growth purpose.

II. PERFORMANCE OF THE BANK DURING 2019-20:

1. UCO's Delivery Channels:

1.1 BRICK AND MORTAR NETWORK:

Bank has a geographically well-spread branch network in India and also has presence abroad. As of 31.03.2020, Bank has 42 Zones and 3086 domestic branches and 2 overseas branches (one each in Singapore and Hong-Kong). Bank's representative office has been established in Tehran, Iran which is functional w.e.f. 25.03.2017.

The Global branch network over 5 years is as under:- (Global)

March '16 March '17 March '18 March '19 March '20
Branch 3077 3104 3108 3088 3088

1.2 BRANCHES & OFFICES NETWORK:

The population category-wise break-up of domestic branches as of 31.03.2019 & 31.03.2020 is given below:

The domestic branches include 6 Flagship corporate branches, 7 Asset Management branches, 4 service branches and 1 central processing centre, 1 integrated treasury branch. Further 31 Retail loan hubs, 8 SME hubs, 72 currency chests are also functioning across the country attached to the major city branches of various centres.

2. BUSINESS PROFILE: 2.1. GLOBAL:

•Global business of the Bank stood at Rs. 3,08,165 crore as of 31.03.2020 compared to Rs. 3,17,480 crore showing a decrease of 2.93% over March 2019.

•Global Deposits has decreased by 2.38% as of 31.03.2020 and stood at Rs. 1,93,203 crore. Global advances fell by 3.86% and stood at Rs. 1,14,961 crore compared to 1,19,573 crore as of 31.03.2019.

2.2. DOMESTIC:

•Overall domestic business of the Bank has decreased by 3.40% and stood at Rs. 2,93,665 crore as on 31.03.2020 from Rs. 3,04,016.68 as on 31.03.2019.

•Total deposits decreased by 2.12% and stood at Rs. 1,88,207.42 crore.

•Advances shown a downward growth of 5.62% from Rs. 1,11,738.53 crore to Rs. 1,05,457.91 crore.

•CASA deposits decreased by 11.53% on Y-O-Y and stood at Rs. 75,691 crore, SB deposits grew by 7.23% and stood at Rs. 63,606.72 crore. Current deposits stood at Rs. 12085 crore compared to Rs. 26243.07 crore as of 31.03.2019, showing a fall of 53.93% on Y-O-Y basis.

•Share of low cost deposits (CASA), in domestic deposits declinedfrom 44.50% as of 31.03.2019 to 40.22% as of 31.03.2020.

2.3 FINANCIAL PERFORMANCE

Bank has incurred loss of Rs 2437 crore during FY 2020 as compared to Rs.4321 crore in FY 2019. The loss during FY 2020 is decreased and Bank has earned Net Profit of Rs. 16.78 Crore during the quarter ended March 2020. Operating Profit for FY 2020 is Rs 4836 crore as against Rs 2760 crore during FY 2019, thereby reflecting an increase of 75.22% . During the year FY 2020 total income registered a growth of 13.64 % from Rs15844 crore in FY 2019 to Rs 18006 crore in FY 2020. During the year Bank made provision of Rs 7272 crore against Rs. 7081 crore in FY 2019. Cost of deposits has decreased from 5.07 % in FY 2019 to 4.90 % in FY 2020. Net interest income increased to Rs.5092 crore in FY 2020 from Rs.4311 crore in FY 2019. Capital Adequacy Ratio (CAR) under Basel lII stood at 11.70% as on March 2020. Govt. of India infused Capital to the tune of Rs. 4272 crore during the FY 2020 and GOI holding stood at 94.44% as on 31.03.2020.

3. TREASURY & INTERNATIONAL

Domestic Investment of the Bank during the year 2019-20 increased by 11.05% from Rs 80622 crore as on 31.03.2019 to Rs 89532 crore as on 31.03.2020 largely due to allotment of recapitalization bond and purchase of Government securities.

The SLR investment of the Bank increased by 6.48% from Rs 56834 crore as on 31.03.2019 to Rs 60520 crore as on 31.03.2020 mainly due to purchase of high yielding Govt. Securities. The Non-SLR Investment (Domestic) grew by 21.96% from Rs 23788 crore as on 31.03.2019 to Rs 29011 crore as on 31.03.2020 mainly due to allotment of recapitalization bond from GoI amounting to Rs 4272 crore.

During the year 2019-20, the bank has earned income from Treasury operations including profit from sale of investments amounting to Rs 7762.28 crore vis-a`- vis Rs. 6252.47 crore during the year 2018-19, thereby registering a 24.15% increase in treasury income y-o-y basis mainly due to higher interest income from investments and profit from sale of investments.

During the Year 2019-20, the bank has registered a growth of 10.99 % in interest income from domestic investments which stands at Rs. 5876.19 crore as on 31.03.2020 as compared to Rs. 5294.21 crore as on 31.03.19 thereby registering a growth of Rs. 581.98 crore on y-o-y basis mainly due to increase in domestic investment portfolio.

3.1 International Business

Total Business of overseas centers as of 31.03.2020 increased to Rs 14,499 crore from Rs. 13,463 crore as on 31.03.2019 showing a Y-o-Y growth of 7.69%. Overseas Deposit of the Bank declined to Rs. 4,996 crore at the end of March 2020 as compared to Rs. 5,629 Crore in March 2019. Advances increased to Rs. 9,503 Crore in March 20 from Rs. 7,834 Crore in March 2019 witha y-o-y growth of 21.30%.

Our Bank with 67 B-category Branches across India is committed to actively cater to the needs of Exporters / Importers Community and also serve the NRI Customers. The Total Merchant Turnover of the Bank during the Financial Year ended on 31stMarch, 2020 stood at Rs. 39,319.11 crore.

Our Bank has also been facilitating Bi-lateral Banking Trade transaction with Iran under "Rupee Payment Mechanism" since Feb, 2012 as mandated by Govt. of India /RBI, thereby facilitating Indian Exporters, exporting permissible goods and services to Iran.

4. SOCIAL BANKING

4.1 Priority Sector Advances:

The Bank has been showing significant performance in lending to Priority Sector over the years and has been effectively servicing the priority sector and agriculture sector with its vast network of rural and semi-urban branches.

As on 31.03.2020, the Priority Sector Advances of the Bank stood at Rs. 57,035 Crore constituting 42.63 % of Adjusted Net Bank Credit (ANBC)

4.1.1 Agriculture Advances:

Total Agriculture Advances of the Bank stood at Rs. 23,652 Crore constituting 17.68 % of ANBC.

4.1.2 Advances to Weaker Sections:

Advances to Weaker Section stood at Rs. 15,796 Crore as of 31st March 2020 consisting 11.80% of ANBC.

4.1.3 Minority Community Advances:

Total Minority Community Advances of the Bank as on 31.03.2020 stood at Rs.7605 crore constituting 13.33% of Priority Sector Advances.

5. INITIATIVES FOR GROWTH:

MISSION 10000 : Bank had set a target to finance 10000 Self Help Groups under Mission mode. As of 31st March 2020, Bank was able to surpass the target and financed to 15,690 SHGs amounting Rs.380 crore. Bank has received award for outstanding performance in financing SHG for the year 2019-20 from SRLM, Govt. of West Bengal.

PM Kisan Saturation: Bank had taken proactive measures for successful implementation of the programme of the Government. As of 31st March 2020, 1,87,980 applications were received under the said programme, out of which 1,23,609 beneficiaries had been given in principle sanction immediately and rest eligible applications will be processed subsequently.

Sankalp for No RIDF for the Financial Year 2020-2021: Bank is required to park fund with RIDF for the amount of shortfall in achievement of agriculture Credit target during the preceding financial year.Bank through its achievement in agriculture credit target during the FY 2019-20, is not required to park fund with RIDF for the FY 2020-21. Hence, the Sankalp for no RIDF in FY 20-21 was fulfilled.

Centralised processing of Interest Subvention: Bank has achieved its objective of centralised processing of interest subvention, which has been successfully implemented wef. 31st March 2020.

Financing Animal Husbandry and Fishery under KCC: Bank has successfully implemented the direction from Government and formulated a scheme for financing Animal Husbandry and Fishery under KCC.

6. REGIONAL RURAL BANKS (RRBs)

UCO Bank sponsored RRB namely, Paschim Banga Gramin Bank (PBGB) is head quartered at Howrah, West Bengal with four regional offices and 230 branches as on 31.03.2020.

6.1 Capital position of RRB:

The total capital of PaschimBangaGramin Bank as on 31.03.2020 stood at Rs. 309.02 crore comprising Rs.154.51 crore (Govt. of India), Rs.108.16 crore (UCO Bank) & Rs.46.35 crore (West Bengal State Govt.).

Performance of RRBs during 2019-20

6.1.1 Paschim Banga Gramin Bank:

As per unaudited financial results, total deposit of Paschim Banga Gramin Bank stood at Rs.5, 531.74 crore as on 31.03.2020, registering growth of 6.76 %. Total advance reached a level of Rs.2,954.88 crore with an annual growth of 7.86 % as on 31.03.2020. CD ratio stood at 53.42% on 31.03.2020 as against 52.87% on 31.03.2019.

The gross NPA stood at Rs.422.76 crore as on 31.03.2020 vis-a-vis Rs.373.45 crore as on 31.03.2019. Gross NPA to Gross Advance stood at 14.31% as on 31.03.2020 as against 13.76% as of 31.03.2019. The net NPA ratio of the RRB stood at 9.28% as on 31.03.2020 as against 9.50% as of 31.03.2019.

Paschim Banga Gramin Bank has earned an operating profit of Rs.117.58 crore as on 31.03.2020 as compared to Rs.92.25 crore as on 31.03.19, registering growth of 27.46 %

Paschim Banga Gramin Bank has recorded a net loss of Rs.36.54 crore as on 31.03.2020 as compared to net profit of Rs.6.79 crore as on 31.03.19, thereby increasing accumulated loss from Rs. 101.17 crore as on 31.03.2019 to Rs. 137.71 crore as on 31.03.2020.

6.2 Corporate Social Responsibility

Bank has taken several programmes/initiatives as a part of Corporate Social Responsibility. Few of these programmes/ initiatives are as under:

a) Our Bank has set up 27 Rural Self Employment Training Institutes in 7 states namely Assam, Bihar, Himachal Pradesh, Odisha, Punjab, Rajasthan and West Bengal. These 27 institutes with dedicated infrastructure are devoted to impart training and skill up gradation and to mitigate the unemployment and under employment problems of rural youths. These institutes are set up by the Bank as a part of initiative taken up by the Ministry of Rural Development to establish dedicated training Institutions for development of entrepreneurship skills in rural youth, under Corporate Social Responsibility (CSR). All RSETIs trained 16436 candidates and 6295 beneficiaries have been provided Credit Linkage of Rs.96.31 Crore during the Financial Year 2019-20. During the year 2019-20, three (3) newly constructed RSETI Buildings were inaugurated and dedicated to the people of the district for conducting Rural training.

b) Bank under UCO Utthan Scheme has adopted 31 villages falling under 26 UCO Branches in 19 Zones of the Bank for upliftment of BPL families and all-round development of adopted villages with financial & social intervention.

c) Under the initiative of Reserve Bank of India, Bank has set up 10 CFLs (Centres for Financial Literacy) in 10 Blocks, 5 each in Bhadrak and Dhenkanal district of Odisha. The Bank and NABARD bear the cost of operationalisation of these CFLs in 40:60 ratios.

d) Bank has 34 Financial Literacy Centres across the country and has recruited 29 Financial Literacy Counsellors for conducting Financial Literacy Camps. During Financial Year 2019-20, the Financial Literacy Counsellors have conducted 3655 Financial Literacy Camps thereby spreading Financial Awareness to 203772 participants.

e) Under the initiative of NABARD, Financial Literacy Awareness Programme (FLAP) has been initiated in all Rural Branches of our Bank for imparting financial literacy awareness for different target segments of population. Programmes were on digital literacy and safety measures to be adopted while doing e-transaction. Our Bank has 1075 Rural Branches where 7362 FLAPs were organized with contribution from our Bank in these programmes amounting Rs.0.49 Crore .

7. FINANCIAL INCLUSION

7.1 PradhanMantri Jan DhanYojna (PMJDY)

Bank has been allotted with 16225 villages across the country to provide inclusive Banking Facility in unbanked / under banked areas. In line with DFS directives these villages were categorized into 4066 Sub Service Area (SSA). Out of these 4066 SSAs, 3600 SSAs are covered though BC agents and remaining 466 SSAs in tier 5 villages (Population above 5000) are covered through Branches for ensuring universal Financial Inclusion and to bring the entire population under ambit of structured Banking facility. Bank has deployed 3568 Bank Mitras in these allotted SSAs. During the FY 2019-20 total 231.10 lacs transactions amounting Rs.8969.52 crore averaging every month about 19.26 lacs transactions amounting Rs.747.46 crore carried out through Micro ATMs used by BC Agents.

By end of March 2020, Bank has Rs. 2833.98 Crore deposits in 85.75 lacs PMJDY Accounts with average balance of Rs. 3304.58. Bank has distributed around 20.21 lacs RuPay Cards to the eligible PMJDY account holders. During the FY 2019-20 average transactions to the order of 2.14 lacs took place through Rupay Cards on Micro ATMs used by BC agents amounting to Rs.110.90 Crore.in aggregate.

7.2 Aadhaar Seeding & Authentication

As per revised guidelines Aadhaar can be given voluntarily as identity proof for opening customer accounts. Aadhaar is required for availing benefits under various welfare schemes. By 31st March 2020, around 86.08% operative saving accounts have been seeded with Aadhaar number and Aadhaar authentication has been done in 52.22% of operative saving accounts. Aadhaar based Direct Benefit Transfer worth Rs 8343.87 crore was transferred to the accounts of beneficiaries.

7.3 Aadhaar Enrolment Centre

A total no of 300 Aadhaar Enrolment centers has been set up covering 10% of the branches as per UIDAI guidelines in our Bank. So far, 1245 staff members (operators/supervisor) have passed the certification exam and 1245 User IDs are activated in our bank. At present Bank is doing about 8 enrolments/updations per day per centre.

7.4 Micro Credit-Overdraft facility

Detailed guidelines by IBA for providing Overdraft facility up to Rs10,000/- has been sent to all branches/zones. Number of PMJDY accounts using the OD facility in the bank as on 31.03.2020 is 180044 involving aggregating sanctioned amount of Rs.36.55 Crore.

7.5 Social Security Schemes

Working on the Government's theme of providing social security to hitherto unbanked masses, Bank has implemented Insurance and Pension products namely, Pradhan Mantri Jeevan JyotiBimaYojna (PMJJBY), Pradhan Mantri Suraksha BimaYojna (PMSBY), Atal Pension Yojna (APY) through its Branch and BC network. Under PMJJBY scheme, 9.75 lakh subscribers are insured and under PMSBY scheme 19.57 lakh lives are insured. So far a total of 4155 claims are settled under PMJJBY and 987 claims are settled under PMSBY. Further, total subscribers under Atal Pension Yojna crossed 3.29 lac till year end.

7.6 Revenue generated through Financial Inclusion Project

Consistent, efforts under Financial Inclusion have given good results and Bank has started gaining both tangible and intangible benefit out of these activities. While decongestion of branches, reduction of transaction cost and increase in CASA base are intangible benefits of FI Project. Tangible benefits have come in the form of commission earned under various products. Bank has earned Rs.262.33 lacs in PMJJBY, Rs.32.28 lacs in PMSBY and Rs.152.13 lacs in APY as commission during FY-2019-20. Similarly an aggregate amount of Rs 4.91 Crore is earned against DBT / DBTL during the year.

8. GOVERNMENT BUSINESS

Government Business Cell handles Small Saving deposit schemes, collection of direct and indirect taxes, Central and State Government Pension, Atal Pension Yojna (APY), Sovereign Gold Bonds (SGB) and National Pension System (NPS).

During the year 2019-20 all Branches have been authorized for the opening of account under Public Provident Fund (PPF), Sukanya Samriddhi Accounts (SSA) and Senior Citizen Saving Scheme (SCSS). There was increase in the accounts opened under PPF- 4105 (41%) and SukanyaSamriddhi Accounts scheme- 2920 (16%) during the year 2019-20.

There was a substantial increase in accounts opened under APY Scheme, from 78745 during 2018-19 to 125584 during 2019-20 shows 60% Y-o-Y growth.

Bank received several awards /accolades for achieving targets for APY enrolment in six months. These awards include:

•Winning Wednesday awards for achieving targets under APY enrolment for six months

•MD& CEO received the award for Leadership capital 2.0 meant for all Banks

•Citizenship award to both the SLBCs for APY achievement.

•Three zones received the award "Rise above the rest "meant for zones.

•Beat the best award received by 201 Branches for their achievement under APY.

•UCO Bank is the only Bank to receive "Pledge to Persist" award meant for Banks for achievement under APY

Bank earned Turn over commission to the tune of Rs. 26 crore during the year 2019-20 on various products namely different state tax collections, CBDT tax collections, CBEC tax collections, central and state government pensions, Atal Pension Yojna(APY), PPF, Sukanya Samridhi Yojana , SCSS , Sovereign Gold Bond etc. Bank has continued its pledge to improve Govt business substantially.

9. MICRO, SMALL & MEDIUM ENTERPRISE (MSME)

The advance under Micro, Small and Medium Enterprises (MSME) as on 31.03.2020 is Rs. 24,486.12 Crore

New initiatives taken under MSME during FY 2019-20

•Bank launched "UCO Carnival" campaign during the year 2019-20 to augment credit to Retail and MSME segment. An amount of Rs.2964 crore.loans sanctioned exclusively to Retail sector and Rs.1,348 Crore loans sanctioned exclusively to MSME sector during the campaign.

•Onboarding of MSME products up to Rs. 500 Lacs in Psbloansin59minutes portal

•Onboarding of Mudra product (up to Rs. 10 Lacs) in Psbloansin59minutes portal

•To encourage MSMEs for prompt repayment, Bank has introduced incentive schemes as under:

•In Case of Term Loans, waiver of last installment to all eligible MSMEs

•In case of Cash Credit, waiver of 25% of renewal charges to all eligible MSMEs

•The Bank has tied-up with RXIL and is trading at RXIL platform with effect from February 2019. Considering future business prospect under TReDS, Bank has also tied-up with TReDS platforms i.e. M1xchange and Invoicemart on 14/11/ 19 for discounting of bills at TReDS Platforms and a total of 1525 bills were purchased amounting to Rs.65.05 Crore during FY 19-20 on this platform.

•Bank has tied-up with M/s Srei Equipment Finance Limited (SREI) on 17/02/2020 to offer Co-origination of loans for purchase of construction and mining, farm and medical equipment under a co-lending arrangement. iQuippo, a Kanoria Foundation initiative, will facilitate sourcing of loans under this programme

•A new scheme for financing Two Wheelers under MUDRA for the purpose of commercial use launched in order to cater the target customers under MSME.

•A special scheme for MSEs "UCO VyaparSamridhi" launched on 17/06/2019 where collateral free loans up to Rs.1 Crore are sanctioned to MSEs including Retail Traders.

•Eight SME Hubs created for funding to MSME sector with reduced TAT .

•With a view to mitigate the liquidity crunch of MSMEs, a new scheme for MSME "Standby Line of Credit for MSME" has been introduced on 06/01/2020

•Implemented scheme "Interest Subvention Scheme for Incremental Credit to MSMEs, 2018".

•Implementation of MSME restructuring scheme of GOI.

•Refinance from SIDBI of Rs. 1200 Crore taken in two tranches (Rs. 600 Crore each).

•MSME Policy modified as per Industry benchmark .

•Monitoring of Online Applications through Portals like Udyamimitra, PMEGP and Psbonline etc. to reduce TAT.

•Bank has tied up with NORKA ROOTS for implementing Government of Kerala Initiated rehabilitation package Norka Department Project for Return Emigrants (NDPREM).

•Bank has signed MOU with CGTMSE for participating as lender on UDAAN Portal. This will assist Bank to utilize technology in better sourcing of MSEs.

10. RETAIL BANKING

The performance highlights of the bank under Retail during FY 2019-20 are furnished as under:

Product As on March 2019 As on March 2020 % Growth Y-o-Y
Home Loan 13,545 14,679 8%
Car Loan 1,357 1,507 11%
Personal Loan 514 538 5%
Other Retail Loan 7,076 8,499 20%
Total Retail 22,492 25,223 12%

•Total Retail loan Portfolio registered Y-o-Y growth of 12%. Core Retail Loan Portfolio (excluding Pool & LRD) registered Y-o-Y growth of 16%.

•Focus areas Home and Car (excluding pool) registered Y-o-Y growth of 14% and 16% respectively.

•Home Loan, Property and Pensioner Loan Products are improvised.

•To cater the financial needs of students pursuing Medical Courses in India and studies abroad, new Education Loan Scheme "UCO Aspire" with increased Limits up to Rs.75 Lacs was launched. As on Mar'20, Rs. 46.14 Crorewas sanctioned under this Scheme.

•"UCO Personal Loan Scheme to Employees of BoB" for Bank of Baroda Employees to subscribe shares offered under BoB ESPS 2019. Business of around Rs.90 Crore was mobilized under this Scheme.

•Two new RLHs at Coimbatore & Kanpur Centres were established.

•To onboard quality customers, a minimum CIBIL/CRIF High Mark score of 600 was set for all Retail Loan Products.

•Tied up with Credit Information Companies to identify Cross Selling opportunities among existing customers, identify potential markets for Retail Loans and for SMS based Customer Profiling Solution.

•"UCO Carnival", a limited period Retail and MSME Loan Campaign was launched on 06/01/20. Total Sanctions during the campaign wasRs. 4,312 Crore (Retail~Rs.2,964Crore and MSME~Rs.1,348 Crore).

11. BANCASSURANCE

•Bank is a Corporate Agent (Composite) for solicitation of Bancassurance business and has tie up arrangement with Life Insurance Corporation of India and Future Generali India Insurance Company Limited for Life and General Insurance business respectively.

•For Group Credit Life Insurance Coverage, Bank is the Master Policy Holder and Group Administrator of Kotak Mahindra Old Mutual Life Insurance Company Limited.

•Bank is under process of executing Agreement with newly selected Insurance Companies under Corporate Agency Tie-up for Bancassurance Business

•Bank also distributes products of the following Asset Management Companies:-

1. M/s. Kotak Mahindra Asset Management Company Limited

2. M/s. Nippon Life India Asset Management Limited

3. M/s. SBI Funds Management Private Limited

4. M/s. UTI Asset Management Company Limited

5. M/s. HDFC Asset Management Company Limited

6. M/s. Baroda Asset Management India Limited

7. M/s. ICICI Prudential Asset Management Company Limited

8. M/s. Franklin Templeton Asset Management (India) Private Limited

9. M/s. Aditya Birla Sun Life Asset Management Company Limited

•In order to augment Bancassurance Business, Bank has 347 trained Specified Persons certified by Insurance Regulatory & Development Authority of India (IRDAI)

•Business Performance under Bancassurance (Life, Non-Life, Group Life Credit) and Mutual Fund Business for the period 01/04/2019 to 31/03/2020 is as below:-

Name of the Company Premium Collected (Rs in Lakhs) Base Commission Earned (Rs in Lakhs) No of Policy/ Folio (Rs in Lakhs)
A. Life Insurance
1. M/s Life Insurance Corporation of India 1152.49 244.74 3651
B. General Insurance
2. M/s Reliance General Insurance Co. Ltd. 196.85 26.56 9348
3. M/s Future Generali India Insurance Co. Ltd. 1717.47 248.23 82451
4. M/s Liberty General Insurance Co. Ltd. 2185.50 330.45 87746
C. Group Credit
1. M/s. Kotak Mahindra Old Mutual Life Insurance Co. Ltd. 1501.86 N/A 9451
D. Mutual Fund Business
1. Mutual Fund Business (9 AMCs) N/A 14.87 N/A
Total Business 6754.17 864.85 192647

12. LEGAL MATTERS

As a specialized Department and performing an advisory role, the role of Law Department is not limited only to defending the claims lodged against the Bank before various fora of Law but also in augmenting Bank's recovery in litigations filed by the Bank before Tribunals/Courts against defaulting borrowers/guarantors. It also entails maintaining a close follow- up and monitoring ensuring their expeditious disposal. Review of performance of Advocates,Standing Counsels, Legal Retainers (if any) are also undertaken by Law Department along with vetting of the Tender Documents of the Bank, Agreements etc., providing legal advice to Corporate Departments/Zonal Offices to take a balanceddecision in Bank's interest.

Law Department has also contributed in spreading awareness and orientation amongst the Field Functionaries to enable them to be conversant with latest developments on various issues from a legal perspective by issuance of 21 Circulars, Common Letters and Hand-Outs for circulation amongst the Field Functionaries.

In auxiliary to the above, Law Department has extended its support to the Central Staff College as faculty in imparting training on varied topics of law. Thus, Law Department enhances value to the organization by providing responsive service, commercially astute advice within the relative legal framework thus having a transformative impact on Bank's business.

13. RECOVERY

Gross NPA % of our Bank has been decreased to 16.77% in March, 2020 from 25.00% in March, 2019 thereby quantum of GNPAs has decreased to Rs. 19,281.95 Crore in March 2020 from Rs.29,888.33 crore in March, 2019 respectively. The NNPA % of the bank has declined by 5.45% in March 2020 against 9.72 % in March 2019.

During the FY 2019-20 the Bank has witnessed fresh slippages of Rs. 6181.38 Crore. Cash Recovery of Rs. 2716.28 Crore for the year ended 31st March, 2020. The total reduction in NPA through Cash Recovery & Up-gradation of NPA during FY 2019-20 is Rs. 4308.67 Crore. Maintaining Bank's Asset quality and recovery of Bad debts remain main focus area for the Bank.

13.1 Recovery performance:

Bank's recovery mechanism is also geared up at all levels of the organization to take advantage of modified compromise settlement scheme, SARFAESI Act, DRTs, Lok Adalats, NCLT, Country wide mega Recovery Camps, Road Shows, MAO campaigns, declaration of wilful defaulters etc. were organized for speedy recovery.

The details of GNPA, NNPA, Cash Recovery and upgradation for the last three years are as under:

Particulars 31.03.2018 31.03.2019 31.03.2020
Cash Recovery 1680.04 2991.52 2716.28
Up gradation 2610.08 2332.20 1592.39
Total 4290.12 5323.72 4308.67
Recovery in Loss Assets
(ML & Technical Write-off accounts) 181.56 448.30 1002.97
Gross NPA 30549.92 29888.33 19281.95
Gross NPA % 24.64% 25.00% 16.77%
Net NPA 14082.07 9649.92 5510.66
Net NPA % 13.10% 9.72% 5.45%

The total cash recovery plus upgradation for the year ended 31st March, 2020 is Rs. 4308.67 Crore as against Rs. 5323.72 Crore for the year ended 31st March, 2019. The recovery in written-off accounts is Rs. 1002.97 Crore for the year ended 31st March, 2020 compared to Rs. 448.30 Crore for the previous year.

Recovery in Loss assets has a direct impact upon the profitability hence Bank giving priority in monitoring / follow-up for recovery in such accounts. A separate vertical in the Bank is monitoring consistently for recovery in loss assets including technically as well as prudentially written-off accounts.

13.2. Some Recovery initiatives:

•Bank has liberal compromise Settlement scheme for NPA and ML accounts having O/s Balance up to Rs. 1.00 Crore under which the branch heads are empowered to approve compromise proposal to ensure more NPA accounts are covered under the proposed non-discretionary/ non-discriminatory OTS Scheme.

•Bank has empanelled 492 Enforcement & Recovery Agents and 1709 Business Correspondents (BCs) for effective and time-bound enforcement of action under SARFAESI Act and early resolution of NPA accounts.

•Bank has implemented the Legal Management System with the objective to facilitate different departments at Head Office & Zonal Offices for monitoring legal matters, creating database of all cases pending before different courts for effective monitoring and early resolution of accounts.

•MAO (Many against One) approach is adopted against recalcitrant borrowers on a regular basis and being monitored at HO level.

•Countrywide Mega Recovery Camps are being organized on Two days every month.

•Mega e-auction of properties under SARFAESI is being conducted on quarterly basis.

•Eligible properties put for auction are uploaded on 'e-BG' a common web portal of IBA (https://ibapi.in) (Indian Banks Auction Properties Information) for meaningful search by the prospective buyers from 28.02.2019.

•Accounts eligible for NCLT are being explored vigorously. Bank is in liaison with other financial creditors on regular basis, for considering the way forward in respect of NCLT cases.

Most of the accounts under NCLT are consortium / multiple banking accounts which are being monitored for resolution on case to case basis in consultation with leader of consortium etc. Where Bank is the leader of the consortium, follow up was made in each and every account for the purpose of resolution.

Where our Bank is a member of Consortium / JLF, Bank is taking up the critical issues with the top management of the respective Leader Banks on regular basis, specifically to convene meeting of JLF at frequent intervals and ensuring our Bank's participation at suitable levels in such meetings.

•Eligible NPA accounts are identified for Sale to ARCs from time to time at regular interval. A total of 434 A/c's amounting to Rs.6150.99 crore has been assigned to Different ARCs since inception.

•State specific Schemes were formulated to widen the scope of NPA recovery as per requirement under Debt Waiver at the State Level through the SLBC of the respective states such as Chhattisgarh Govt. Short Term Crop agriculture debt waiver scheme 2019.

14. CREDIT MONITORING

Present economic situation has accentuated upsurge of bad loans in the banking industry force banks to deal with NPA more proactively by stressed asset management for arresting fresh slippage. Bank has geared up mechanism of tracking by initiating measures as under:-

•Bank has put in place framework for identification of Red Flagged Account (RFA) based on triggers known as Early Warning Signals (EWS) as per guidelines on Framework for dealing with loan frauds leading to the identification of the account as fraud or not within the period of six months from date of marking the account as RFA. Regarding System identification of EWS,a software package has been implemented which is capable of generating 42 EWS triggers as suggested by RBI along with 84 EWS triggers as suggested by DFS under EASE-Public Sector Reform Agenda.

•Considering severe stress in Micro, Small and Medium Enterprises (MSME) sectors, Framework for revival and rehabilitation of Micro, Small and Medium Enterprises and one time restructuring of MSME, formulated in terms of RBI guidelines and has been put in place for resolution of stressed asset under these sectors.

•As a part of stressed asset management, default assets 5 crore and above weekly reporting done to RBI at Central Repository of Information on Large Credit (CRILC) platform and monitored on daily basis.

•NPA Tracker through mobile application has been introduced for monitoring stressed and NPA accounts at base level.

To improve upon functioning at the grass root level,bank has devised furtherfollowingstrategic policy and guidelines:

a) Operational guidelines for Credit Monitoring 2018-19 has been updated and put in place after obtaining approval of the Board.

b) Policy for empanelment of TEV consultants has been revised and put in place on 05.07.2019.

c) Based on the feedback received from field functionaries and following the guidelines of Reserve Bank of India (RBI), thirty Seven (37) numbers of circulars issued on effective credit monitoring during Financial Year (FY)2019-20.

d) Engagement of Agencies for Specialized Monitoring and effective monitoring of Large Borrowal accounts with exposure above Rs 250.00 Crore has been introduced on 15.02.2019 after obtaining approval of the Board.

e) Guidelines for empanelment and appointment of Stock & Book Debt auditors has been revised and put in place on 05.07.2019.

f) Stressed accounts of Rs 5.00 Crore and above was directly monitored by High Power Committee (HPC), headed by Executive Director (ED) on fortnightly basis. g) Policy for empanelment of valuers for the properties offered as securities, both primary and collateral while processing of credit facility has been revised and put in place on 23.05.2019.

15. RISK MANAGEMENT

In order to come out of Prompt Corrective Action (PCA), Bank had initiated various Turn around Strategies after deliberating the same, with the Board of directors. The risk appetite of the Bank in different segments is also captured in ICAAP Document.

Bank put in place a Contingency Funding Plan (CFP) to manage severe liquidity stress under different scenarios.

Best practices at Industry level in Credit & Operational risk areas have been identified. The Policies of our Bank have been reviewed and some policies have also been vetted by the external agencies.

Risk Management culture has been percolated down to the zonal office and branch level. Zonal Office Level Operational Risk Management Committee has been formed to review the operational risk areas at field level and analysis of its Root Causes and its plugging thereof.

Credit Risk Vertical has been created to evaluate inherent credit risk in credit proposals before its fresh sanction or enhancement. Bank is in the process of linking it with our system, especially with the Early Warning System (EWS), Loan Management System and Credit rating modules.

Asset Liability Management (ALM) Cell was upgraded. Pricing of our Liabilities and Asset Products is mostly linked with RBI policy rate and it is market driven. It is transparent, with the change in Repo Rate.

Credit Rating Cell is engaged in evaluation of credit risk and the risk rating models are also recalibrated from time to time. As decided by the competent authority, the credit rating will be system driven.

Fraud Risk Management Cell has been formed for identifying and monitoring various fraud prone areas and fraud accounts, examining the cases by committee of executive (COE) and Fraud Management Group (FMG).

Our pricing of loan to Corporate Borrowers is linked with RAROC document. The online module for Credit Audit system has been implemented.

The Public Sector Banks (PSBs) Reform Agenda - "Enhanced Access & Service Excellence" (EASE), has been successfully implemented in our Bank and UCO Bank has secured 9th Rank in December'19 quarter under EASE 2.0, amongst all PSBs.

UCO Bank unveiled its plans for customers to obtain via app,portal or call Centre, Doorstep Banking Services offered collectively by PSB as " PSB Alliance " for service such as pick -up of cheques and income-tax exemption certificates and delivery of Income-tax challan ,drafts and account statements in major cities across India.

During Covid-19 pandemic crisis, Bank implemented all the directives of Govt of India under AatmaNirbhar Bharat, without loss of time and Emergency Credit Lines also extended to the MSME and Non MSME borrowers, with the approval of Board of directors.

16. INFORMATION TECHNOLOGY, BPR & BT DEPARTMENT

1. ATMs/Debit Cards :

•Introduction of UCASH (Cardless cash Withdrawal) at our Bank's ATMs for our Customers.

•Cash@POS for Bank's Rupay& Visa Debit Card holders and Rupay prepaid card holders.

•Launching of Rupay Select Card .

•To resolve ATM related customer issues on the spot Bank provided WhatsApp Number 7596049109.

•Introduced additional 400 new ATMs to increase operational efficiency.

2. M-banking :

Features implemented in Mobile Banking:

•New Mobile Banking App mBanking plus launched with following additional services:

•Generation of TDS certificate.

•Enrolment of PMJBY and PMSBY.

•Debit card issuance and activation.

•PPF account opening.

•UPI DMSportal launched for lodging disputed transaction of UPI.

•New mPassbook App launched for Customers of Singapore and Hong Kong branches.

•Complaint management system portal launched for reporting unauthorized digital transactions.

•New account opening option introduced through UCOPAY+ app with AADHAAR validation and Branch selection.

•Implementation of UPI Mandate management system.

3. E-Banking :

As part of EASE of Banking and Customer Convenience initiatives following features have been implemented during last financial year:

•A/c Statement on email.

•Debit Card Request through internet banking.

•Renewal of Fixed Deposit and addition of nominee. •Implementation of CAPTCHA for enhanced security.

•Apply for Locker

•Seeding PAN number in account.

•Online Submission of 15G/ 15H

•Cheque Book Request

4. Other important facility implemented for Customer Convenience

•Availability of 24X7 NEFT in line with RBI guidelines

•Online facility of One Time Settlement of NPA Accounts -Non-discriminatory and Non-Discretionary (OTS-NDND)

•Integration with DigiLocker for TDS certificate.

•Implementation of Door Step Banking facilities under EASE in Banking facility for Senior Citizens and Differently abled persons including those who are visually impaired - through e-Banking and UCO Bank's website.

•UCO Bank, being anchor Bank selected service providers for Universal Door Step Banking for all strata of customers on behalf of all Public Sector Banks.

•Integration done with GeM Portal for seamless processing of payments.

•Facility for giving Standing Instruction for payment in PPF account.

•Centralized eTDS has been implemented in pension payment.

•To improvise CBS access at branches 2802 nos. of Branches have been upgraded to 2 Mbps Link.

5. Call Centre :

Bank introduced IVR based Phone Banking solution called "UCO SAMPARK" through toll free number 18002740123 from registered mobile number. Interactive Voice Response (IVR) systems help customers complete various banking activities with minimal to no involvement of an agent for assistance.

It is available in Hindi, English and ten (10) other regional languages and can be accessed anytime and anywhere.

6. SWIFT/SFMS :

•SWIFT NOSTRO and Message Reconciliation System made live.

•Bank has initiated process for implementation of SWIFT GPI(Global Payment Innovation) and SWIFT Domestic Messaging Platform.

7. Smart Pay :

•Total 27 New merchants have been added during the financial year 2019-2020 for collection of fee/funds from School/ Colleges and other merchants.

•Bharat Bill Pay has been made live since 01.10.2019

17. CYBER SECURITY

•Bank has Cyber Crisis Management Plan in place to ensure rapid identification, information exchange, swift response and remedial actions to mitigate and recover from cyber threats impacting critical business functions.

•Bank has Cyber Security Policy and Information Security Policy in place to provide direction and support for cyber security in accordance with business requirements, relevant laws and regulations.

•Cyber risk awareness workshops and programmes have been conducted for employees for disseminating awareness at different user level.

•Table Top Exercises have been carried out to assess the preparedness and efficiency of Branches and Offices in reporting cyber incidents.

•Cyber security best practices and safety tips have been shared through Facebook and Twitter to make customers aware of the challenges of cyber risks and threats.

A Handbook on "Your awareness is your safety" has been published to spread awareness amongst employees. Cyber Security threats and best Cyber Security practices have been explained in this book in an illuminating manner.

Employee awareness has also been enhanced through various kinds of advisory viz Cyber Security Thought of the Week series, Cyber Cable 2020 series, Be Aware Be Secure series, Think Before You Act series and Cyber Patrika series. Computer Security Day was been celebrated on 30th November 2019 and an awareness campaign was also been organised throughout the month of November 2019 by circulating Infosec Series among all the employees, through Email.

18. CUSTOMER SERVICE

Standardised Public Grievance Redressal System ( SPGRS ) is available for the public to lodge complaints online. 98 % of the total complaints received during the financial year 2019-20 have been redressed. Under RTI, a total of 966 applications were received, during FY2019-20. There were 152 appeals made under RTI.

19. MIS & ADF CELL

Bank is having Management Information System (MIS) vertical for internal reporting as well as reporting to regulatory and various statutory bodies etc.

MIS-ADF is integrated with all the discrete systems of our Bank, viz. Finacle (Domestic and Overseas), GBM, LAPS, Domestic Treasury, E-Banking, Mobile Banking, M-Wallet etc. and is performing as a one stop solution in providing information to the organization for multipurpose like co-ordination, control, visualization, data analysis to increase the value and profit of business, its implementations and TOP Management level for effective decision making by providing data and information in the shortest period of time.

Bank has developed reporting system under MIS ADF for submission of RBI returns/data viz. BSR, SIBC, NRDCSR etc. without any manual intervention through XBRL platform. Internal reports are made available for business verticals - Credit, Risk Management, Recovery, Treasury, International, Overseas and Finance for control, monitoring and reporting on day to day business parameters. Department faces the challenge of submission of all adhoc data on regular basis in time bound manner and succeeds in doing the same exceptionally well.

Digital channel performance reporting is made to Ministry of Electronics & Technology, Govt. of India on daily basis.

Bank is also reporting, credit information to consumer, commercial and SHG segments on monthly basis to different Credit Bureau like CIBIL, CRIF Highmark and Equifax.

Department has developed automated process for SLBC data generation /submission directly to SIBC portal as per standardized format. Bank has also successfully implemented Centralised Information Management System (CIMS) project launched by RBI. Under this project 117 RBI returns to be automated in a time bound manner. 1st phase of automation process have been completed successfully. Department is constantly taking initiatives to automate the processes of data generation and submission.

Department has also initiated the process of implementation of Data ware housing project data for enhanced Business Analytics through the BI module and act as Decision Support system for improving organizations operational efficiency, add value to existing products, engender new innovative products for successful growth of the Organization.

20. CORPORATE COMMUNICATION

Bank reinforces strong corporate reputation through its high degree of transparency and consistency in communication with stakeholders and also disseminates timely information with clarity, coherence and credibility including information through the websites of the Bank on real-time basis. Bank aims to inform, persuade and involve one and all in the activities and growth through sustained, consistent and relevant messages and using a judicious mix of both external and internal communication tools.

Bank has taken up multiple initiatives through various channels namely Print Media, Outdoor Media, sponsorship of different events, CSR activities and dissemination of requisite information to stakeholders to build and maintain the brand-image of a world class financial institution.

a) Publicity Campaigns :

Print Media:

Print Media is an effective medium to connect to masses. Corporate Communications Department has utilized it effectively by carrying out focused intensified and vigorous publicity campaigns throughout the FY 2019-20. Liability products and Asset products viz. UCO Carnival, UCO Challenge, UCO Home Loan, UCO Car Loan, Festival offer for UCO Home & Car loan, PMMY, Stand-Up India, psbloanin59minutes, KCC etc. were prominently promoted during the period.

With a thrust on routing the transactions through Alternate Delivery Channels (ADC) and making banking more customised and customer-oriented, UCO Pay+, E-Banking etc. were widely publicized through Print Media during the period.

Publication of financial results in leading national and local dailies was also executed through Print Media.

Outdoor Media:

The contribution of Outward Media towards establishing a strong brand value in the market cannot be underestimated. Outdoor media publicity is basically done through hoardings, kiosks, wall paintings, banners, sponsorship and beautification of gardens/ parks etc. Proposals related to sponsorship of events, health check-up camps, sporting events etc. are also done from time to time.

Rural Publicity:

Rural publicity is an integral part of publicity-campaign for UCO Bank having pan-India and strong rural presence. Bank has promoted and monitored various rural publicity campaigns through zonal offices located across the country. Wall-Paintings, announcements by Rickshaw, Loan fairs etc. were carried out for promoting awareness about products and services offered by the Bank.

b) Celebration of 77th Foundation Day:

The Bank completed 77th glorious years of service to the nation on 6th January, 2020. The occasion was celebrated with much enthusiasm and vigor across the country and overseas centers. Employees and executives of the Bank jubilantly participated in a Walkathon from Head Office I to PrincepGhat. Zonal Offices and Branches across the country organised different activities viz. planting saplings, blood-donation camp, health check-up camp etc.

c) Public Relations: Press Meet :

Dissemination of information and coverage of important events and occasions viz. Financial Results, Awards & Recognition, Opening of new branch is prerequisite for strengthening the public relations. During the FY 2019-20, Corporate Communications Department organised Press Meets for declaration of quarterly and yearly financial results and other important events. Department has also arranged for press-release of financial results, AGM & EGMs and other important events in leading national and local newspapers throughout the Financial Year. d) Corporate Social Responsibility :

Bank believes that carrying out CSR activities help in tangible value creation. Moreover, CSR creates a positive image in the mind of customers and society at large. This creates a sense of belongingness and loyalty in existing and prospective customers.

e) UCO Tower :

Bank is also publishing the in-house magazine "UCO Tower" where all the constituents are encouraged to participate. UCO Tower also aims to create awareness of all happenings and activities of the Bank among all employees.

21. HUMAN RESOURCE

Human Resource Management Department comprises of various Cells looking after different segments of the departments. All these cells worked in tandem during FY 2019-20 to create a harmonious and productive work environment. Training and workshop were organized for improving/enhancing the skills and knowledge of the staff.

21.1 Manpower Management:

The Total staff strength as on 31st March, 2020 stood at 22436 including employees serving overseas. We have 12281 Officers and 7023 Clerks, out of which, 3309 are SC, 1684 are ST and 4132 are OBC. There are 3132 Sub staff in our Bank.

Out of total staff, 484 employees are Differentially-abled and 1456 belong to the Minority Communities. Women employees (5832) constitute 25.99 % of the Total Workforce as on 31st March, 2020.

21.2 IR Negotiation Cell:

During the period, the Industrial Relations climate in the Bank remained cordial between the Management and the Unions/ Associations. Meetings and discussions were held with Unions/ Associations at periodic intervals through mutual co-operative attitude and respect during the financial year 2019-20.

21.3 Reservation Cell:

Bank has been implementing reservation, relaxation and other concessions extended to SC/ST/OBC / Differently Abled Persons and Ex-Servicemen employees as per reservation policy of the Government of India. During internal promotion process for the FY 2019-20, as per GOI guidelines, Bank has imparted Pre-promotion Training to 840 candidates for inter-scale promotion of officers (SC - 278, ST - 145, OBC - 383 and PWD - 34); 646 candidates for promotion from clerical to officers (SC - 241, ST -118, OBC - 279 and PWD - 8); and 596 candidates for promotion from sub - ordinate to clerical cadre (SC - 342, ST - 72, OBC -177, PWD - 7) belonging to SC/ST/OBC and PWD category. Our Bank, being the Nodal Agency in two states i.e. Shimla and Odisha, also provides pre -recruitment training.

In order to address the issues of SC / ST & OBC employees of the Bank, meetings are called at Apex level as well as at Zonal office level (Where reservation roster is maintained) with Welfare Association of such employees. The grievances of the employees are also handled and subsequently redressed by the cell, as per Bank's policy and guidelines.

The reservation cell hosted a review meeting for monitoring the implementation of reservation policy for OBC with Dr. Bhagwan Lal Sahni, Hon'ble Chairman, National Commission for Backward Classes along with Dr. Lokesh Kumar Prajapati, Vice - Chairman, Shri Kaushalendra Singh Patel, Hon'ble member and in-charge Finance along with other dignitaries of the Commission on 13.02.2020.

21.4 Recruitment Cell:

In the year 2019-20, Bank has recruited 435 Probationary officers. Out of total 435 officers, 155 officers are females. 454 clerks have also been recruited during the financial year 2019-20. Out of total 454 clerks 135 are females. Bank also proposes to recruit 115 Probationary officers and 146 Clerks under CRP-VIII reserve list for year 2019-20, and 500 Probationary officers and 650 clerks for 2020-21 under CRP-IX.

21.5 Training Cell:

Our Organization, being a part of one of the most dynamic industries, has to keep up with the constantly changing environment by continuously updating its workforce with various Training Programmes in the concerned Fields. Training programmes are held aligning the corporate vision, mission and fulfilling the expectations of the Top Management.

In FY 2019-20, 221 Executives, 11581 Officers, 4536 Clerks and 606 Sub-Staffs, totaling 16944 were trained in Internal Training programmes conducted at our Central Staff College (CSC) situated at Kolkata and 7 Regional Training Centres, as well as Zonal Offices across India. We also continued to sponsor our Executives & Officers in reputed External Training Institutes like IIMs, NIBM, CAB (RBI), IIBF, CAFRAL, IIBM, etc. in which 578 employees were trained in External Training programmes which helped them in acquiring a global competitive edge.

Specialized Training Programme for Visually Impaired employees was conducted in which 35 employees participated.

In FY 2019-20 some important Training programmes like Risk Management programme for Risk Officers, Programme for Visually Impaired employees, Programme on Ethics and Prevention of Corruption, Workshop on HR Analytics, Programme on MSME Financing, HeartfulnessProgramme etc. were conducted. During this period, employees have been given comprehensive training in the areas of MSME, Priority Sector & Agriculture and Financial Inclusion. The numbers of employee trained in these areas are: MSME- 633, Priority Sector-2141, and Financial Inclusion-678. Apart from this, some specific topics like Awareness in IT & Cyber Security, Customer Service, Branch Profitability, Digital Products etc. have been included in all Internal Training Programmes.

In FY 2019-20, total of 557 employees were paid honorarium/ incentive for passing Bank approved courses as per RBI guidelines on Capacity Building.

21.6 Internal Complaints Committee (ICC):

Our Bank is committed to promote gender equality and women's empowerment which result in economic development and inclusive growth and benefit the nation as a whole.

In terms of creating safe workplace environment for women our Bank has constituted Internal Complaints Committees at Apex level as well as Local Level enforcing the rules as laid out in the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 for quick redressal of such complaints, if any.

In FY 2019-20, total 02 complaints received in the month of Feb'2020. These complaints are under investigation with the Internal Complaints Committee-Apex Level.

22. AUDIT & INSPECTION :

•After the introduction of Risk Based Supervision of Banks by RBI and adoption of Basel-III norms, the function of Audit& Inspection has undergone a sea change. Along with traditional functions of ensuring proper follow up of policies & procedures, strengthening the internal control, the Audit & Inspection measures the risk the Bank faces in day to day operations. Hence the policies, process followed up by the Audit & Inspection Department have undergone significant changes.

•The Risk Based Internal Audit of Branches and other service outlets have been adopted since 2014. Our Integrated Treasury branch, Mumbai is also under RBIA from June 2019. The Bank has switched over to Risk based Online Concurrent Audit and Management Audit System from May 2019. During the year under review Bank has empanelled 80 retired Officers/Executives for conducting RBIA of branches.

•The Offsite surveillance cell of Audit & Inspection Department has been strengthened. The system generated alerts are being generated in 33 parameters. The disposal of alerts by branches has reached an average of 93%. Apart from generation of alerts, this cell is also monitoring various internal accounts, suspicious transactions through back-end data mining.

•During the year under review, RBIA has been conducted in 2087 branches, Management Audit conducted in 25 Zonal Offices and 4 Head office Departments and 887 Branches / Offices are under Concurrent Audit.

23. VIGILANCE DEPARTMENT

1. Preventive Vigilance Initiatives taken by the Organization

Following preventive vigilance initiatives have been taken by the Bank during the year 2019-20.

•Direct interaction of the CVO was concluded successfully with 21 zones out of 42 zones in our Bank in an effort to sensitize field functionaries regarding vigilance matters. It was a unique opportunity to explain at appropriate level all vigilance related issues without fear or favour.

•Vigilance officers have visited sensitive branches/offices for surprise inspection and have submitted reports directly to the Department.

•RBIA/Concurrent Audit Reports have been examined on a regular basis to detect any irregularity or scope for the same.

•Best practices and systemic improvements were shared with field functionaries during Preventive Vigilance workshops and trainings.

•Circulars have been issued highlighting the modus operandi or certain frauds which have been detected at Department level for dissemination of knowledge at Branch level.

•Circular elaborating certain irregularities being committed, often unknowingly (entries in staffs and office accounts) and preventive steps

•Scrutiny of Annual Property Returns has been conducted by the Department to ascertain its genuineness.

•As part of Vigilance Awareness Week held from 28.10.2019 to 02.02.2019 with the theme "Integrity-a way of Life" Executive from the Department visited various zones and participated in various outreach activities / programmeattended by staff members, customers and local people where preventive and participative vigilance measures have been elaborately discussed to create awareness.

•There has been an appreciable increase in the number of young citizens who have participated in literary and artistic events organized by our Bank.

•704 Gram sabhas were held across the country and it was clearly spelt out that the Bank is not the only truste of vigilance and probity and it is rather a two way process wherein ordinary citizens are equal shareholders in maintaining integrity in all walks of life.

•In-house workshops and literary events were also held.

2. Systemic improvements undertaken by the organization

•A comprehensive policy incorporating systemic improvement measures for loan against pledge of Ware House Receipts has been circulated by Agriculture and Rural Business Department.

•A centralized cell at Zonal Office level for verification of all new Current Accounts has been introduced with at attempt to monitor authenticity of current accounts. SMS alerts have been generated for any change in nomination.

•Mobile number change request now entails a message generated for the same which is sent to the earlier mobile number and then subsequently to the new mobile number to prevent possible frauds.

•Introduction of e-tendering for procurement and e-payments to vendors with capturing of GSTIN in all relevant cases.

•Introduction of Captcha for e-banking and mobile banking applications along with OTP for initiating any transaction.

•Inclusion of all MSME and Agriculture schemes under LAPS-Lending Automation Processing System for standardization of credit appraisal.

•Further, 260 number of vigilance cases have been disposed off while 267 new cases have been added during the year 2019-20.

•Workshops and Training programmes undertaken by the Department on Preventive Vigilance - The bank has nominated officers / executives to different training programmes on vigilance matters organized by CVC, New Delhi, IIBF, Kolkata, NIBM, Pune and Gujarat Forensic Sciences University at Gandhinagar.

24. OFFICIAL LANGUAGE

The Bank took proactive steps to implement the Official Languages Policy of Govt. of India and has meticulously taken measures to comply with the provisions of Official Languages Acts and the rules made thereunder. The Bank has also taken appropriate follow up actions to implement the directives as contained in the Annual Programme with regard to the use of Official Language Hindi issued by Departments of Official Language, Ministry of Home Affairs, Govt. of India and also endeavoured to achieve various targets prescribed in the said Annual Programme. Bank has also given preferred attention to comply with the instruction of Department of Financial Services, Ministry of Finance, Govt. of India.

24.1 Sankalp Rajbhasha - 2020

With the inspiration and encouragement of Our Top Management, Bank, for the first time, adopted an action plan namely SankalpRajbhasha- 2020 to achieve the target of winning RajbhashaKirtiPuraskar, the highest award for Head Office and RajbhashaKshetreeyPuraskar for Zonal Offices given by Official Language Department, Govt. of India in the field of Official Language.

Head Office as well as Zonal Offices actively implemented all the items enumerated in the SankalpRajbhasha- 2020 Action Plan, the outcome of the endeavour are as under:

1. UCO Bank G D Birla Memorial Lecture

Total 17 Zonal Offices organised the lecture on different topics. The Speakers included VCs, Scientists, Economists, Professors and several distinguished persons.

2. UCO Bharteeya Bhasha Sauhard Samman

Dr. N Chandrashekharan Nayar, renowned Hindi and Malyali Writer, Translator, Teacher and Director-Kerala Hindi Sahitya Academy was honoured with first UCO Bharteeya Bhasha Sauhard Samman comprising Rs. 51000/- and a memento.

3. UCO MatribhashaSamman

Total 15 Zonal Offices honoured 28 candidates of 8 States with Rs. 5000/- and a memento who cleared Civil Services Exam of State Public Service Commission through Hindi/ Regional Languages.

4. UCO Rajbhasha Samman

Head Office and all 41 Zonal Offices honoured 90 students of different Universities with Rs. 5000/- and a memento who topped MA (Hindi) Exam.

5. Sponsoring Popular Hindi Programme

Head Office sponsored 25th Hindi Mela, the largest Hindi Programme organised for seven days for Students in India with Rs. 1.00 Lakh. Besides this, 11 Zonal Offices also assisted Popular Hindi Programme in their respective Centers with Rs. 10000/- each.

24.2 National Hindi Seminars

Bank organised a National Level Hindi Seminar on 'Contribution of Public Sector Banks in Indian Economy' at IIBM, Guwahati on 1st July, 2019 wherein altogether eight papers were presented by winners of All India Inter Bank Hindi Essay Competition. The Seminar was inaugurated by our Managing Director & CEO Shri A K Goel. Dr. Jawahar Karnavat, General Manager- OL, Bank of

Baroda, Mumbai; Shri Badri Prasad Yadav, Officer in Charge, RIO, Guwahati; Shri Naresh Kumar, General Manager- HRM, PSD & OL and other dignitaries also graced the Seminar.

Our Zonal Office, Patna organised a two days National Seminar on 'Role of Commission for Scientific and Technical Terminology in Development of Official Language' at Patna on 30-31 July, 2019 in collaboration with CSTT, New Delhi. Scholars from Patna, New Delhi, Lucknow, Varanasi, Kolkata, Guwahati, Agartala, Ranchi and Bhagalpur attended the Seminar.

24.3 Hindi Training

•Approx. 3400 Officers and Clerks were trained through 172 Hindi Workshops to do their day to day work in Hindi. Also, approx. 3200 Officers and Clerks were also imparted Desk Training on computer on Hindi Unicode.

•Central Staff College, Kolkata & all Regional Training Centres imparted Hindi Training covering all aspects of OL Policy of GOI in each training programme.

•Further, approx. 200 Officers and Clerks passed Prabodh, Praveen &Pragya Hindi Exams of Govt. of India.

24.4 Hindi Publication

Bank published a book on 'Contribution of Public Sector Banks in Indian Economy' which is compilation of selected essays of participants of All India Inter Bank Essay Competition.Our Hindi Magazine 'Anugoonj' is continuously being published in which for the first time Regional Languages Articles were included. All our Zonal Offices are also bringing out their Zonal Hindi Magazines regularly. Altogether, they reflect the activities of the Bank and creativities of the Staff at same time.

Head office started two e-magazines namely, UCO Dainiki, a daily publication and UCO Masiki, a monthly publication. Both are being circulated to all our branches and offices. All Zonal Offices are also bringing out their UCO Dainiki and UCO Masikiwhich are being circulated under their respective Zones.

24.5 Town Official Language Implementation Committee (TOLIC)

Apart fromHead Office, who is the convenor of TOLIC (Bank), Kolkata, our Ajmer & Bhagalpur Zonal Offices and our LDM, Roopnagar under ZO Chandigarh & LDM, Bilaspur under ZO Dharmashala are convenor of TOLIC at Ajmer, Bhagalpur, Roopnagar and Bilaspur respectively.

For the first time in the history of TOLIC (Bank), Kolkata, Hon'ble Shri JagdeepDhankhad, Governor, West Bengal was invited as Chief Guest in the 68th Half Yearly Review Meet held on 23rd October, 2019 at Hotel Hindustan International, Kolkata. Hon'ble Shri EknarayanAryal, Consul General, Nepal at Kolkata was invited as Chief Guest in a programme to celebrate Vishwa Hindi Divas held at Bank's Central Staff College, Kolkata.

24.6 OL Inspection

Head Office inspected 11 Zonal Offices- Hooghly, Burdwan, Guwahati, Bhopal, Patna, Kolkata, Salt Lake, Nagpur, Raipur, Bhagalpur, Bhubaneshwar and Central Staff College during the year. Similarly, Zonal Offices in altogether inspected 784 Branches in their respective Zones.

24.7 Achievements

•UCO Bank, Head Office being the convenor of TOLIC (Bank), Kolkata was awarded First Prize-Kshetriya Rajbhasha Puraskar for the third consecutive year by Department of OL, Ministry of Home Affairs, Govt. of India for excellence in implementation of Official Language for the year 2018-19 amongst all TOLICs in Eastern Region - a Hattrick, worth mentioning.

•OurAjmer Zonal Office, convenor of TOLIC (Bank), Ajmer was also awarded Third Prize- KshetriyaRajbhashaPuraskar for the year of 2018-19 by Department of OL, Ministry of Home Affairs, Govt. of India for excellence in implementation of Official Language.

•Our Varanasi ZO, Allahabad Main br. and Akola br. under ZO

Nagpur won First Prize of their respective TOLIC;

•Our Surat ZO, Dharamshala ZO, Jodhpur ZO, Panaji br., Balod br., Raopurabr won 2nd prize of their respective TOLIC;

•Our Bhubaneshwar ZO, Raipur ZO, Patna ZO, Ernakulam ZO, Mumbai ZO &Ghazipur br. won 3rd Prize of their respective TOLIC

•Our Guwahati ZO, New Delhi Zo and Dhamtaribr won Special Prize of their respective TOLIC.

•Apart from this, our several staff members from different Zones won 24 First, 15 Second, 21 Third and 11 Consolation Prizes under various competitions organised by TOLICs all over Country.

•Further, our staff won several Prizes - one First, three Second and 7 Consolation Prizes in All India Inter Bank Hindi Essay Competitions organized by Bank of Baroda, Bank of Maharastra, Indian Bank, Indian Overseas Bank & UCO Bank thus increasing the image of the Bank among all Banks.

24.8 Miscellaneous

•Official Language Officer's Conference of the Bank was held on 12-13 July, 2019 at RTC, Bhopal. The Conference was inaugurated by Shri Charan Singh, Executive Director and Shri Harish Singh Chauhan, In Charge, RIO, Bhopal was Chief Guest. The Conference was held under the able guidance of Shri Naresh Kumar, General Manager- HRM, PSD & OL; Shri S SRatan, Zonal Manager, Bhopal and Shri O P Gunani, Principal, RTC, Bhopal graced the conference.

•BhartiyaBhashaSauhardSwaroop Hindi Pakhwada/Mahwas celebrated by Head Office as well as all Zonal Offices with enthusiasm and zeal starting 1st September. Several Competitions for all cadres including GMs were organised. The main programme was organised at Rotary Sadan, Kolkata on 16th Sept, 2019 which was attended by MD & CEO and both the EDs, Executives and large number of staff members. Shri Nirmal Kumar Dubey, in charge, RIO, Kolkata was Chief Guest of the programme. Altogether 82 staff members were awarded.

•Third Sub Committee of Parliamentary Committee on Official Language inspected our Puri Branch under Bhubaneshwar Zone on 19th February, 2020. Department of Financial Services, Ministry of Finance inspected our Zonal Office, New Delhi on 2nd Dec, 2019 and Head Office on 26th Dec, 2019.

•During the year Chennai, Nagpur and Bengaluru Zonal Offices were inspected by Regional Implementation Office, Deptt. of OL, Ministry of Home Affairs.

25. Marketing

•Bank has launched its enhanced Online Fee collection module supported by mobile app & real time MIS report for merchants.

•Bank launched its official Instagram page in January 2020 and total followers reached: 854

•Bank has run variousfocussed outreach programmes and campaigns for promotion/customer awareness of our products such as Current Accounts, Salary accounts, Retail & MSME loans, POS, Online fee collection, Debit cards etc.

•Bank has designated Relationship Executives at all branches( forpromotionof our products to prospectivecustomers through enhancing customer awareness) and also to provide personalized experience to them.

• Total Transactions in Fee Collection Module stood at 1.61 Cr

• Total Debit Card Issued: 25.41 Lac

• New Registration in Mobile Banking is 550296.

• New registrations in BHIM UCO UPI is 87,775.

• Increase in Facebook followers to 11660.

• Increase in Twitter followers: 7620

• Increase in Youtube Subscriber to 2.3 k.

•Achieved Target Given by MEITY for Digital Transaction.

•Doctor loan: Total 365 accounts opened within 1.5 months with Total sanction amount of Rs. 18.96 crore during the Doctor loan campaign observed from16.11.2019 to 31.12.2019 (earlier only 59 accounts were opened during the period 01.04.2020 to 15.11.2020).

•Personal loan for BOB Employees for ESPS: Total account opened 2793 with Total sanction amount of Rs. 92.75 crore during the campaign period from 26.09.2019 to 15.10.2019.

•Current account: Total 19091 current account opened with Total balance of Rs. 173.93 crore during the campaign period from 23.09.2019 to 25.10.2019 and then from 16.11.2019 to 31.12.2019.

•UCO Smart Kids: Total 66146account opened under UCO smart kids campaign organized from 25.10.2019 to 15.11.2019

UCO Telewinger

Department launched a dedicated Youtube channel "UCO Telewinger" to inspire and educate the people about banking related topics and to promote our products.Department has launched an e-magazine called "UCO Adda", which contains variety of topics to engage all age groups. It is an initiative to provide a platform to discover the underlying potential and talent in UCOites. This is being published on monthly basis.

26. GENERAL ADMINISTRATIVE DEPARTMENT

Our Bank has taken initiative for centralised rent payment of branches, ATM and other administrative Buildings on pan India basis to check and balance the rental expenditure as well as minimise the pendency of renewal of lease. The Centralised Rent payment System ( CRPS ) has now been implemented and made live since January 2020 and the rent payment related to our branches. ATMs and other Administrative office is being made centrally by Head office except for a few Branches /offices.

27. COMPLIANCE DEPARTMENT

Compliance Functions mandated by the Reserve Bank of India and all other regulators domestically as well as globally are the responsibility of Compliance Department. Emphasis is being laid on continuous perfection in reporting of various regulatory returns and provisions e.g. KYC/AML issues, STRs (Suspicious Transactions Report), CTRs (Cash Transaction Reports), CBWTRs (Cross Border Wire Transfer Reports, CFT (Combating of Finance for Terrorism), etc., to the Regulators, Govt. Of India Authorities, SEBI, FIU-IND, under PMLA Act 2002, as Reporting Entity (RE).

Compliance & KYC/AML Policies are being revisited / reviewed periodically and approved by the Board of Directors to mitigate breaches in Compliance Functions if any. During FY 2019-20, Compliance Test Checking (CTC) was undertaken in all the 3051 regular business Branches and all Branches/Offices have been sensitized about the need for ensuring timely Compliance functions. Critical issues are being discussed at appropriate levels before being reported to the Regulatory/Statutory Authorities, thus enhancing the system efficacy.

Periodic interactions with Risk Management Department and Audit & Inspection Department, is being done on critical control and compliance functions as a part of effective Risk Management and development of robust Compliance Culture.

28. FUTURE PLAN OF THE BANK

The Outbreak of COVID - 19 and effect of lock down from last week of March 2020 to June 2020 caused severe adverse impact across all the sectors of Indian economy including banking. To address this situation, Reserve Bank of India has taken series of measures to protect financial stability and arrest an economic meltdown. As a relief measure, Central Government unveiled Rs.20 lakh crore Atmanirbhar Bharat package to boost various sectors of economy.

To fall in line with the current situation, Bank has redesigned its strategies to implement Atmanirbhar Bharat package announced by Central Government. The thrust area of the Bank is improving Retail, Agriculture and MSME (RAM). At these tough times, Bank will extend emergency credit lines, on merits, to the borrowers who were affected by COVID 19 economic crisis.

Bank has taken up several technological initiatives like migrating to Finacle 10, improving software of mobile, internet and phone banking. These initiatives in customer convenience will give good results in coming months. With the help of PHYGITAL( Physical& Digital) network, Bank will focus on mobilisation of low cost resources that will augment bottom line.

Bank is in the process of upgrading its loan processing with introduction of technology driven loan origination system which will be rolled over in couple of months. With introduction of this system, there will be almost end to end automation of loan appraisals and lapses in loan processing can be avoided to a great extent. With the speedy approvals, Bank will boost its retail portfolio.

Bank will focus on strengthening its customer reach techniques by tie up with few Fintech firms who are having expertise in evaluation of GST & IT returns, analysis of financial statements, Bank statements, customer information including behavioural pattern of customers.

Economy is likely to be muted till the end of first half. Bank will make its products and services more competitive and improve its internal processes for a robust growth soon after economic revival take place.

29. BOARD OF DIRECTORS

29.1 Corporate Governance

Bank firmly believes in and has consistently practiced good corporate governance woven around its core values of transparency, professionalism and accountability. By constantly focusing on these aspects in its day-to-day operations, the Bank strives to enhance shareholders' value. The Bank being committed to the principles of good governance, its Board of Directors has formed various committees of the Board to monitor every aspect of Bank's business. The systems and business processes of the Bank are continuously reviewed at various levels for identifying and strengthening areas of weaknesses, if any. The Directors of the Bank believe that good governance is the key to earn trust, loyalty and goodwill of clients, business associates, employees and investors and also to have respectable position in the society at large.

29.2 Changes in the Board of Directors

• The tenure of Shri Charan Singh as Executive Director of the Bank ended on 09.03.2020.

• The tenure of Shri Anil Sharma, Director under CA Category ended on 25.07.2019.

• The tenure of Shri Amit Chatterjee as Part-time Non-Official Director of the Bank ended on 29.02.2020.

29.3 Meetings of the Board of Directors

During the FY 2019-20, fifteen meetings of the Board of Directors were held. The number of meetings of various Committees of the Board held during the period is given below

Name of the Committee No. of meetings held
1. Management Committee of the Board 15
2. Audit Committee of the Board 09
3. Risk Management Committee of Board 04
4. Stake holders' Relationship Committee of the Board 02
5. Special Committee of the Board for Monitoring Large Value Frauds 06
6. Customer Service Committee of the Board 03
7. Committee on HR Related Issues of the Bank (HR Committee) 03
8. Nomination and Remuneration Committee of the Board 02
9. IT Strategy Committee of the Board 04
10. Board Level Committee for Monitoring Recovery in NPA Accounts 10
11. Committee of the Board for Disposal of Appeal Cases 03
12. Review Committee (Wilful Defaulters) 03

29.4 Statement of Director's Responsibility:

The Board of Directors confirm that in the preparation of the annual accounts for the year ended March 31, 2020, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any. The accounting policies framed in accordance with the guidelines of Reserve Bank of India, were consistently applied. Reasonable and prudent judgements and estimates were made so as to give a true and fair view of the state of affairs of the Bank at the end of the financial year and of the profit of the Bank for the year ended March 31, 2020. Proper and sufficient care was taken for the maintenance of adequate accounting records in accordance with the provisions of applicable laws governing banks in India; and the accounts have been prepared on an on-going basis. Internal financial controls have been laid down by the bank for ensuring orderly conduct of business.

29.5 Acknowledgements:

The Board welcomes the Executive Director, Shri Ajay Vyas nominated on the Board during the year 2019-20 and look forward for his valuable inputs towards the growth of the Bank. The Board acknowledges the valuable contributions of Shri Charan Singh,

Executive director; Shri Amit Chatterjee and Shri Anil Sharma, Directors whose tenure completed during the financial year 2019-20. The Directors remain thankful to the Government of India, Reserve Bank of India and other regulatory authorities for their support and valuable guidance. The Board also thanks other financial institutions and correspondent banks for their cooperation.

The Board of Directors expresses its gratitude to the loyal customers for their trust and continuous patronage of the Bank. The Board also thanks the staff unions/associations and shareholders of the Bank for the support extended by them. The Directors place on record their deep appreciation of the dedication shown by each employee of the Bank.

By order of the Board of Directors

sd/-
(A. K Goel)
Place: Kolkata Managing Director &
Date: 30th June, 2020

Chief Executive Officer

   

UCO Bank Company Background

Atul Kumar Goel
Incorporation Year1943
Registered Office10 B T M Sarani,7th Floor
Kolkata,West Bengal-700001
Telephone91-33-22254120/29,Managing Director
Fax91-33-22485625
Company SecretaryN Purna Chandra Rao
AuditorR M Lall & Co/M C Bhandari & Co/Rama K Gupta & Co
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarKFin Techologies Pvt Ltd
Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032

UCO Bank Company Management

Director NameDirector DesignationYear
N Purna Chandra Rao Company Secretary 2020
Arvind SharmaNominee (RBI)2020
K Rajivan Nair Director (Shareholder) 2020
Atul Kumar Goel Managing Director & CEO 2020
Anand Madhukar Nominee (Govt) 2020
Ajay Vyas Executive Director 2020
Tuli Roy Nominee 2020

UCO Bank Listing Information

Listing Information
BSE_500
BSE_PSU
CNX500
BSESMALLCA
PSUBANK
BSEALLCAP
BSEFINANCE
MID150
LMI250
MSL400
NFTYMSC400
NFTYSC250

UCO Bank Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Interest/Discount on Adv/BillsRs.0008140.5066
Income on investments Rs.0005939.0885
Others Rs.000578.4429
Interest on Balances with RBI Rs.000476.2952

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