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UCO Bank

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

NSE BSE
 
SMC down arrow

13.35

-0.10 (-0.74%) Volume 280564

24-Sep-2021 EOD

Prev. Close

13.45

Open Price

13.50

Bid Price (QTY)

13.35(5351)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 13.55 - 13.30

52 wk High/Low 16.35 - 10.75

Key Stats

MARKET CAP (RS CR) 15997.07
P/E 63.71
BOOK VALUE (RS) 16.656943
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0.21
PRICE/BOOK 0.803268642991694
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 51.86
4

News & Announcements

09-Sep-2021

UCO Bank spurts as RBI removes PCA restrictions

09-Sep-2021

UCO Bank leads gainers in 'A' group

09-Sep-2021

Volumes soar at UCO Bank counter

09-Sep-2021

UCO Bank - UCO Bank - Updates

01-Sep-2021

UCO Bank receives reaffirmation in credit ratings

20-Jul-2021

UCO Bank to hold board meeting

26-Jun-2021

UCO Bank AGM scheduled

21-Jun-2021

UCO Bank to conduct board meetin

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 9020665 0.08
Total Institutions 153625328 1.29
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 11404910524 95.39
Total Public & others 388401659 3.25
Total 11955958176 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 AND DISCUSSION ANALYSIS

1. GLOBAL ECONOMY:

The year 2020 was predominated by covid-19 pandemic, posing the most formidable economic challenges to the world. Social distancing, vaccinations and treatments have helped to slow the spread of the virus and saved lives. Second and third infection waves have necessitated reviewed/revived restrictions in many countries. Global economic output is estimated to fall by (-) 3.3% in 2020 and projected to grow at 6% in 2021, moderating to 4.4% in 2022.

The US economy contracted by 3.5 % in 2020. The Japanese economy expanded by 11.7% in Q4 in 2020. European GDP declined by 6.6 % in 2020 as emergence of the second wave of the virus and lockdowns across major constituent economies. In UK, GDP contacted at 9.8 % in 2020. In the early Q1,2021 infection reached a new peak with newer and more contagious variants pushing the economy into third nationwide lockdown in January, 2021. The economic recovery continued in China and overall GDP increased to 2.3 % in 2020 and making it only major economy to register growth in pandemic period. Russian economy contracted in 2020 with a modest recovery in H2 preventing a deeper plunge. Across major South East Asian economies GDP declined in the range of 2.2 % to 8.3 % on Y-o-Y basis as the virus impeded economic activity. Merchandise trade-volumes and cross-border trade in services remained subdued. The Global commercial flight activity and port activity began rising in March, 2021 with recovery gaining ground amid localised movement restriction. In a one-off event, the Suez Canal, a trade artery connecting Europe with Asia and facilitating 12% of global trade was blocked for 6 days disrupting the Global supply chains.

Global equity markets remain bullish driven by American rescue plan and gain in vaccination, besides localised lockdown, inflationary concerns and rising Bond yields across advance economies. European share rose amid hopes of an economic recovery reinforced by ongoing inoculations forecast by sustained monetary and fiscal efforts with UK's FTSE 100 claiming up by 3.6 %. Overall, advanced economies stock markets posted gains. Japanese Nikkei rose modestly by 0.7 % with the government records budget announcements. Chinese stock witnessed losses, amid policy tightening elevated US bond yields, asset price correction in housing market and rising covid-19 cases. Rising Bond yield and concerns over monetary tightening in the US reined in capital flows to emerging market and developing economies.

Global commodity prices are rising since May 2020, after recovering from a plunge in the early part of 2020. Crude oil prices lost some steam in September, on waning demand prospects but have picked up since November 2020, base metal prices increased by 30% between August 2020 and February 21. The resurgent industrial activity in China and other advanced economies coupled with US fiscal stimulus boosted sentiment towards metals. The second half of 2020 saw a surge in prices of many staple crops including wheat, corn, soybeans and Palm oil reversing an earlier trend of stable or declining prices over the first months of pandemic.

Government and Central banks have provided unprecedented and large fiscal and monetary stimulus since March 2020. Monetary policy turned even more accommodative with expansion of asset purchase programmes and launch/ extension of special liquidity programme by central banks in most advanced economies and emerging market economies (EMEs). Rate cuts continued mainly by EMEs. A few major EMEs, however, raised rates in March in response to inflation concerns. The Fed maintained the target range for the federal funds rate 0 to 0.25% since March 2020. The Bank of England has maintained a pause on the bank rate at all-time low of 0.1 % since March 2020. The bank of Canada had maintained a pause on the policy rate since reducing its 0.25% in March 2020.Among the major AE Central Bank, Australia and Iceland reduced policy rates in Q4 2020. The People's Bank of China has maintained the one-year loan price rates at 3.85 % since April 2020. The central bank of Philippines and Bank of Indonesia, which were on pause after cutting rates in September, cut their policy rates by 25 bps each in February 2020, and by 50 bps and 25 bps, respectively, in March to support growth. In April 2020 Fed announced the main street lending program, to support household. The Fed has indicated that it would continue asset purchase at the current pace.

In currency markets, the US dollar has weakened considerably since March 2020, expecting of the policy rates staying low for a considerable time. The euro has strengthened considerably against the dollar with resumption of capital flows, most emerging market currencies have strengthened since Q2, 2020.

2. Indian Economy:

The year 2020 remained extremely challenging. India has been experiencing a steady decline in new covid-19 cases after experiencing the first peak of mid-September 2020. However there has been resurgence in fresh cases since mid-February 2021, marking the onset of a second wave. India is now 5th in number of active cases in the world and has been experiencing the largest number of the daily new cases. India scaled daily new cases of more than 1 lakh on 4th April 2021. Daily tests per lakh have also started rising again after declining moderately at the beginning of this year. The active cases have increased at a faster pace and by 15th April 2021, it crossed more than 2 lakh. In absolute numbers, Maharashtra accounting more than 60% of the new cases in March. Kerala, Punjab, Karnataka and Gujarat are the other top states in contributing to the case rise.

The second phase of covid-19 vaccination drive began on 1st March 2021 for all the individuals above 60 years age and for people aged 45 and above with specified co-morbidities. India achieved Milestone in its vaccination drive with the highest ever single day figure of more than 36.7 lakh vaccination coverage recorded in 24 hours on 1st April 2021. India recognised that the pandemic impacts both supply and demand in the economy.

Indian economy after subdued growth in 2019 had begun to regain momentum during January 2020 onwards. The provisional estimates of National Income released by NSO placed India's real gross domestic product contraction at 7.3% for 2020-21. The GVA of the industry sector reported a contraction at 6.96%. Service sector also recorded contract at 8.36% while Agriculture, forestry and fishing surged to 3.6%. Since then several high frequency indicators have demonstrated a V shaped recovery. The implementation of Atmanirbhar Bharat Mission by government of India and on the back of extraordinary fiscal and monetary support provided by the government and RBI shown progress in the economy in Q3 of the financial year FY 2020-2021 onwards.

India's merchandise exports during FY21 were at $290.6 billion compared with $313.2 billion in March 20. There has been de-growth of 7.3 % in FY 21. Merchandise import was down to $389.2 billion in FY 21 compared with $474.2 billion in the previous year. Trade deficit in FY2021 was $98.6 billion.

India's exports and imports were severely impacted in April-May 2020 with several countries imposing lockdowns and resultant Global trade disruption. India's headline inflation as measured by consumer price index (CPI) rose to a four-month high of 5.52 % in March 21 largely owing to the rise in fuel and higher prices of food items. During FY 21, the Index of Industrial Production has de-growth by 8.6% compared with negative growth of 0.8% in FY 20. This means that Industrial production contracted due to continuous nation-wide lockdown. Rupee weekend marginally tracking the strength in the US Dollar on account of an uptick in US Treasury yields coupled with improved outlook for the US economy. Rise in crude oil prices and commodity price in March also weighed on the weakness in the rupee. The INR exhibited movements in both directions against the US dollar. During first half of 2020-21, after depreciating to its lowest level of Rs. 76.81 on April 2020 the INR subsequently appreciated owing to FPI flows to the domestic equity market.

Domestic equity markets recovered in FY 2020-21 to register a jump of 71% and 68% in Nifty 50 and Sensex respectively over the last fiscal. The recovery was supported by stimulus measures announced by the government, RBI's liquidity measures and record investment by FPI, FY 2020-21 witnessed a record FPI inflow of $36.2 billion.

Union Budget 2021 has provided a strong fillip to the capex momentum with clear emphasis on infrastructure investment as key sector for revival of demand and overall growth. Foreign investment in India insurance companies has been raised from existing 49% to 74%. This brings the insurance sector at par with the private banking sector. To fund the infrastructure spending, various innovative measures have been ensured including setting up a special Development Financing Institutions to provide credit enhancement for infrastructure prospects.

Banking Sector Development

Heading into the Pandemic, the Banking Sector of India is in a much improved position. The Monetary Policy Committee (MPC) of the RBI met five times since March 2020 and reduced the policy repo rate by 115 bps from 5.15% to 4.0% so far. During 2020-21, the growth of monetary aggregates witnessed higher growth as compared to previous few years on account of higher liquidity in the economy.

RBI undertook several conventional and unconventional measures to manage the liquidity in the economy starting from Feb 2020. Domestic financial conditions continue to remain comfortable with RBI's consistent efforts to maintain adequate liquidity support. The Central bank has conducted open market purchases to the tune of Rs. 3.13 lakh crore in FY 2020-21 and Rs. 25000 crore in April 2021.

During first half of 2020-21, Bank credit off take was an anaemic reflecting weak demand and uncertainty in the wake of the pandemic, Non-Food Credit growth (Y-o-Y) at 5.6% as of March 2021 was lower than 6.1% a year ago driven by weak momentum and base effects. Credit growth of PSBs remained modest although with some uptick since March 2020. Deposit of SCBs grew by 11.4% on Y-o-Y.

The domestic bond markets already facing supply side pressures of massive gilt issuances to sustain India's countercyclical fiscal expansion. India's 10-year G-Sec yield rose from 6.12 per cent as on 5th February 2021 to reach 6.38 per cent as on 12th March 2021. As on 26 March 2021, the Central Government had raised 13.7 lakh crore as gross market borrowings during FY 2020-21, which is 93.0 per cent higher than the corresponding period in 2019-20

After the outbreak of the pandemic, the foreign portfolio investors turned net sellers in both the equity and the debt segments in April 2020. Renewed concerns about domestic growth prospects coupled with weak global cues, turned FPI into Net sellers in the equity segment as against net buyers in the debt segments. After a 75 bps policy rate cut and the announcement of liquidity augmenting measures on March 2020, yields on T bills softened sharply dipping below the reverse repo rate.

The Asset quality of SCBs improved during 2020-21 with the overall NPA ratio declining to 6.8 % in Dec 2020 from 8.3 % in March 2020. CRAR of SCBs increased from 14.7 % to 15.8% between March 20 and Sep 20. Money Supply (M3) growth remained steady at 12.6 % as on March 2021. The transmission of policy rate, repo rate changes to deposits and lending rates of SCBs has improved since March 20 reflecting the combined impact of policy rate cuts.

Consolidation among another 10 PSBs with PNB, Canara Bank, Union Bank of India and Indian Bank as anchor Banks come into effect from April 2020. One-time restructuring of loans to MSMEs that were in default but standard as on Jan 1,2019 was permitted. The cut-off date was extended to March 2020 to support-viable MSME. The maximum permissible period of Pre-shipment and Post shipment export credit sanctioned by banks was increased from 1 year to 15 months for disbursement made up to July 2020.

II. PERFORMANCE OF THE BANK DURING 2020-21:

1. UCO's Delivery Channels: 1.1BRICK AND MORTAR NETWORK:

Bank has a geographically well-spread branch network in India and also has presence abroad. As of 31.03.2021, Bank has 42 Zones and 3087 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 '17 March '18 March '19 March '20 March '21
3104 3108 3088 3088 3089

1.2 BRANCHES & OFFICES NETWORK:

The population category-wise break-up of domestic branches as of 31.03.2020 & 31.03.2021 is given below:

The domestic branches include 6 Flagship corporate branches, 7 Asset Management branches, 4 service branches, 1 central processing centre and 1 integrated treasury branch. Further 23 MCU branches, 31 Retail loan Hubs, 10 SME Hub and 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. 3,24,324 crore as of 31.03.2021 compared to Rs. 3,08,165 crore showing an increase of 5.24% over March 2020.

-Global Deposits has increased by 6.58% as of 31.03.2021 and stood at Rs. 2,05,919 crore. Global advances increase by 3.00% and stood at Rs. 1,18,405 crore compared to 1,14,961 crore as of 31.03.2020.

2.2.DOMESTIC:

-Overall domestic business of the Bank has increased by 5.03% reached at Rs. 3,08,448 crore as of 31.03.2021 from Rs. 2,93,665 crore as of 31.03.2020.

-Total deposits increased by 7.08% and stood at Rs. 2,01,528 crore.

-Advances shown increase growth by 1.39 % to Rs. 1,06,920 crore as of 31.03.2021 from Rs. 1,05,458 crore as of 31.03.2020.

-CASA deposits increased by 5.59% on Y-O-Y and stood at Rs. 79,922 crore, SB deposits grew by 11.17% and stood at Rs. 70713 crore. Current deposits stood at Rs. 9,209 crore compared to Rs. 12,085 crore as of 31.03.2020, showing a fall of 23.80% on Y-o-Y basis.

-Share of low cost deposits (CASA), in domestic deposits decreased from 40.22% as of 31.03.2020 to 39.66% as of 31.03.2021.

2.3 FINANCIAL PERFORMANCE

Bank's Net Profit surged to Rs. 167.03 crore during FY 2021 as against Net loss of Rs. 2436.83 crore. Bank registered Net profit in Financial Year 2020-21 after continuous loss in previous 5 financial years. Operating Profit for the year ended 31.03.2021 has increased to Rs. 5420.62 crore from Rs. 4835.60 crore for the year ended 31.03.2020 registering a growth of 12.10%. Bank has transferred Rs. 41.75 Crore, 25% of current year net profit, to statutory reserve fund in compliance with Banking Regulation Act 1949. No dividend is recommended by the Board in view of inadequacy of profits.

Gross NPA has reduced to Rs. 11351.97 crore (9.59%) as on 31.03.2021 from Rs. 19,281.95 crore (16.77%) as on 31.03.2020. Total income grew by 0.89% and stood at Rs. 18166 crore in FY 2021. During the year Bank made provision of Rs. 5254 crore in FY 21 again Rs. 7272 crore in FY20. Net Interest income has increased from Rs. 5092 crore to Rs. 5480 crore as of March 2021. Capital Adequacy ratio stood at 13.74 % against 11.70% as on 31.03.2020. Common Equity Tier I ratio has increased from 8.98% to 11.14% as on 31.03.2021. Cost of Deposit decreased to 4.29% in FY21 against 4.90% in FY20. Return on Asset has Improved from (-)0.96% to positive 0.06%. Provision Coverage Ratio has improved to 88.40% in March 21. EPS has improved from Rs. ( -)3.10 in FY20 to Rs. 0.17 in FY21. The authorized capital of the Bank increased from Rs.10,000 crore to Rs.15,000 crore to Gazette notification dated 17th September, 2020. Govt. of India infused Capital to the tune of Rs. 2600 during the FY 21. Govt. of India holding stood at 94.44 % as of March 21.

3. TREASURY & INTERNATIONAL

Domestic Investment of the Bank during the year 2020-21 increased by 4.42% from Rs. 89,532 crore as on 31.03.2020 to Rs. 93,501 crore as on 31.03.2021 largely due to allotment of recapitalization bond and purchase of Government Securities.

The SLR investment of the Bank increased by 6.29% from Rs. 60,520 crore as on 31.03.2020 to Rs. 64326 as on 31.03.2021 mainly due to purchase of high yielding Govt. Securities. The Non-SLR Investment (Domestic) grew by 0.52% from Rs. 29011 as on 31.03.2020 to Rs. 29163 as on 31.03.2021. We received allotment of recapitalization bond from GoI amounting to Rs. 2600 crore.

During the year 2020-21, the bank has earned income from Treasury operations including profit from sale of investments amounting to Rs. 8436 crore vis-a`-vis Rs. 7762.28 crore during the year 2019-20, thereby registering a 8.68% 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 2020-21, the bank has registered a growth of 3.71% in interest income from domestic investments which stands at Rs. 6091.78 crore as on 31.03.2021 as compared to Rs. 5873.69 crore as on 31.03.2020 thereby registering a growth of Rs. 218.09 crore Y-o-Y basis mainly due to increase in domestic Investment portfolio.

3.1 International Business

As of March 31, 2021, the Bank's total business from Overseas Branches at Singapore and Hong Kong was Rs. 15,876 Crore and constituted 4.89% of the global business. The Overseas Business constituted of total deposits of Rs. 4,391.38 Crores and total advances of Rs. 11,484.62 Crore.

Our Bank with 68 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 31st March, 2021 stood at Rs. 33,324.41 Crores.

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 31.03.2021, the Priority Sector Advances of the Bank stood at Rs. 60279 Crore constituting 43.84 % of Adjusted Net Bank Credit (ANBC)

4.1.1 Agriculture Advances:

Total Agriculture Advances of the Bank stood at Rs. 24509 Crore as of 31st March 2021 constituting 17.82% of ANBC.

4.1.2 Advances to Weaker Sections:

Advances to Weaker Section stood at Rs.18334 Crore as of 31st March 2021 consisting 13.33% of ANBC.

4.1.3 Minority Community Advances:

Total Minority Community Advances of the Bank as on 31.03.2021 stood at Rs. 8792 Crore constituting 15.35% of Priority Sector Advances.

4.2 Initiatives for growth:

KRISHI SAMRIDHI: Bank has launched special campaign from 16.11.2020 to 24.12.2020 focusing investment credit & production credit in Agriculture. Bank has achieved Rs. 463.86 crores sanction in this campaign involving 31879 number of accounts.

KRISHI SAMPADA: Bank has taken initiative to increase Agriculture advance from 12.10.2020 to 10.11.2020 and achieved sanction of Rs. 625.04 crores involving 32354 accounts.

LAKSHYA 700: under this initiative, Bank had set a target of Rs.700 crores in Agriculture advance from 13.01.2021 to 20.02.2021. The achievement was Rs. 628.73 crores involving 35583 accounts.

AGRI FEST: under this initiative, from 14.12.2020 to 06.01.2021, Rs. 492.26 Crores Agriculture advance were sanctioned involving 24933 accounts.

5. 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 31.03.2021.

5.1 Capital position of Paschim Banga Gramin Bank

The total capital of Paschim Banga Gramin Bank as on 31.03.2021 stood at Rs. 309.02 crores comprising Rs.154.51 crore from Govt. of India, Rs.108.16 crore from UCO Bank (as sponsor Bank) & Rs.46.35 crore from West Bengal State Govt.

5.1.1 Performance of Paschim Banga Gramin Bank during 2020-2021:

As per unaudited financial results, total deposit of Paschim Banga Gramin Bank stood at Rs. 5900.54 crore as on 31.03.2021, registering growth of 6.67 percent. Total advance reached a level of Rs. 3191.62 crore with an annual growth of 8.01 percent as on 31.03.2021. CD ratio stood at 54.09% on 31.03.2021 as against 53.42% on 31.03.2020.

The gross NPA stood at Rs.412.60 crore as on 31.03.2021 vis-a-vis Rs. 422.86 crore as on 31.03.2020. Gross NPA to Gross Advance stood at 12.93% as on 31.03.2021 as against 14.31% as of 31.03.2020. The net NPA ratio of the RRB stood at 8.09% as on 31.03.2021 as against 9.28% as of 31.03.2020.

Paschim Banga Gramin Bank has earned an operating profit of Rs.133 crore as on 31.03.2021 as compared to operating profit of Rs. 117.58 crore as on 31.03.2020, registering growth of 13.11%.

Paschim Banga Gramin Bank has recorded a net loss of Rs. 59.23 crore as on 31.03.2021 as compared to net loss of Rs. 142.73 crore as on 31.03.2020, thereby increasing accumulated loss from Rs. 243.90 crore as on 31.03.2020 to Rs. 303.13 crore as on 31.03.2021.

6. 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 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 conducted 360 training programmes involving 9414 candidates and 2890 beneficiaries have been provided Credit Linkage of Rs. 25.81 Crore during the Financial Year 2020-21. During the year 2020-21, four (4) newly constructed RSETI Buildings were inaugurated and dedicated to the people of the districts 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. Bank has been further allocated 54 CFLs involving 7 states and 25 Districts, which are to be made operational by 31st December 2021.

d) Bank has 35 Financial Literacy Centres across the country and has recruited 22 Financial Literacy Counsellors for conducting Financial Literacy Camps. During Financial Year 2020-21, the Financial Literacy Counsellors have conducted 1958 Financial Literacy Camps thereby spreading Financial Awareness to 54429 participants as of 28th February 2021.

7. FINANCIAL INCLUSION

7.1 Pradhan Mantri Jan Dhan Yojna (PMJDY)

Bank has been allotted with 16280 villages across the country to provide inclusive Banking Facility in unbanked / under banked areas. In line with DFS directives these villages were categorized into 4121 Sub Service Areas (SSAs). Out of these 4121 SSAs, 3655 SSAs are covered though BC agents and 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 3655 Bank Mitras in these allotted SSAs. During FY 2020-21 total 235.70 lacs transactions amounting Rs. 8640.23 Crores (averaging every month about 19.64 lacs transactions amounting Rs. 720.01 Crores) carried out through Micro ATMs used by BC Agents.

Bank has garnered deposit of Rs. 3678.75 Cr at the end of March 21 in 100.99 lakhs PMJDY accounts registering the growth of deposit and account opening of 29.81% and 17.77 % respectively. The average balance in PMJDY accounts increased from Rs. 3304.58 to Rs. 3642.68 per account. Bank has opened 15.24 lakhs PMJDY accounts during FY 2020-21. Bank distributed around 22.50 lacs RuPay Cards to the eligible PMJDY account holders. During the FY 2020-21 average transactions to the order of 3.42 lacs took place through Rupay Cards on Micro ATMs used by BC agents amounting Rs. 160.50 Crores in Average.

7.2 Aadhaar Seeding & Authentication

As per revised guidelines, Aadhaar number can be given voluntarily as identity proof for opening customer accounts. Aadhaar is required for availing benefits under various government welfare schemes. By 31st March 2021, around 85.08% operative saving accounts have been seeded with Aadhaar number and Aadhaar authentication has been done in 48.69% of operative saving accounts. Aadhaar based Direct Benefit Transfer worth Rs. 8312.50 Crore was transferred to the accounts of beneficiaries.

7.3 Micro Credit-Overdraft facility

Number of PMJDY accounts using the OD facility from the bank as on March 2021 is 3.74 Lakhs involving aggregate sanctioned amount of Rs.75.30 Crores. Total 1.92 Lakhs PMJDY account holders has been sanctioned overdraft during the financial year 2020-21. Keeping in view the emerging COVID 19 pandemic, Bank had given extra overdraft of Rs. 1000/-over and above maximum Rs. 10,000/- mandated by IBA.

7.4 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 Jyoti Bima Yojna (PMJJBY), Pradhan Mantri Suraksha Bima Yojna (PMSBY), Atal Pension Yojna (APY) through its Branch and BC network. Under PMJJBY Scheme, 10.98 lakh subscribers are insured and under PMSBY scheme 22.47 lakh lives are insured. So far a total of 5652 claims are settled under PMJJBY and 1071 claims are settled under PMSBY. Further, total subscribers under Atal Pension Yojana crossed 4.02 lac till end of FY 20-21.

7.5 Pradhan Mantri Garib Kalyan Yojana

Keeping in view the COVID19 pandemic, Government of India in March 2020 announced financial assistance to women PMJDY account holders. DBT payment under PMGKY schemes successfully processed to 47.97 lakhs PMJDY women beneficiaries in 3 tranches (April, May and June) amounting Rs.719.83 Crore by the Bank.

7.6 Financial Assistance to BC Agents

During COVID 19 Pandemic and lockdown situation across the country, our BC channels done commendable job in distribution of PMGKY funds to women PMJDY women beneficiaries. As a token of appreciation for the good work done by BC agents, Bank provided financial assistance of Rs. 1000/- to each BC agents for purchase of sanitiser and masks. Bank has also advised eligible BC agents to enrol for PMJJBY and PMSBY and reimbursed the cost of premium to them.

7.7 Urban BC

To penetrate Banking services at under-served urban areas and to have greater presence in cities and business growth, Bank has decided to establish 500 Urban BC points at 199 urban centres of the country. Setting up of these urban BC points is in process.

7.8 Corporate BCs

For better control and monitoring of BC agents, Bank has decided to convert all individual BCs to Corporate BCs. During March 2020, Bank had empanelled 12 Corporate BCs and allotted SSA and non-SSA points to these corporate BCs for conversion of existing individual BC Agents / empanelment of new BC agents at these locations.

7.9 Aadhaar Enrolment Centre

A total no of 300 Aadhaar Enrolment centres has been set up covering 10% of the branches as per UIDAI guidelines in our Bank. Bank has outsourced the Aadhaar Operator activity to Corporate BCs in order to create efficient operation of AECs and optimum use of Bank's staff. At present Bank is doing about 8 enrolments/updations per day per centre.

7.10 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. 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. 393.6 lacs in PMJJBY, Rs. 43.64 lacs in PMSBY and Rs. 75.40 lacs in APY as commission during FY-2020-21. Similarly an aggregate amount of Rs. 7.28 Crore is earned against DBT / DBTL during the year.

8. GOVERNMENT BUSINESS

Government Business Cell handles Small Savings Deposit Schemes of GOI, collection of Direct and Indirect Taxes, issuance of Sovereign Gold Bonds, Floating Rate Savings Bonds, Central and State Government Pension and National Social Security Scheme - Atal pension Yojna (APY) & National pension Scheme (NPS).

During the year 2020-21 bank envisages to increase penetration of Public Provident Fund (PPF) and Suknya Sanruddhi Yojana (SSY) schemes. There was an increase in accounts opened under PPF - 24247 (35%), Sukanya Samruddhi (SSY) accounts - 19384(32%) in FY 21.

There was an increase in account opened under APY scheme, from 293514 in FY 20 to 373476 in registering 27% YoY growth. Bank has received the Appreciation under APY Big Believers and "Pledge to Persist" award meant for Banks APY persistency.

Bank emphases to promote Govt. business channel to increase fee base income. Turnover commission earned to the tune of Rs. 32.36 crores in FY 21 from various Govt. Business products i.e. Tax collections, Pensions schemes, Small Saving Schemes, Bond issuance etc. as against Rs. 26.00 crores in FY 20, showing YoY growth of 24.46%. Bank has continued its pledge to improve Government Business Substantially.

9. MICRO, SMALL & MEDIUM ENTERPRISE (MSME)

MSMEs were badly hit by COVID-19 pandemic in FY 2020-21. Government of India and Bank on its own took various measures to help MSMEs restart their businesses.

-Under implementation of GECL Scheme of Government of India, Bank mobilised business of Rs. 1518 Crores -Under implementation of PM SVANidhi Scheme of Government of India, Bank mobilised business of Rs. 34 Crores in 34,495 accounts -Bank implemented Subordinate Debt Scheme (DAF-SDSM) of Government of India -Campaigns launched to augment credit to Retail & MSME

Segment

(Amt in Crs)
S.L. Campaign Campaign Period Retail Business MSME Business Total
1. Festive Delight 05/10/20 to 30/11/20 2270 664 2934
2. New Year Bonanza 04/01/21 to 17/02/21 1489 443 1932

-To help the healthcare community amid COVID-19 pandemic, Bank modified and reissued Master Guidelines on UCO Doctor Scheme

-On TReDS Platforms, a total of 5388 bills discounted amounting Rs. 319.16 crore during FY 20-21 on this platform -Bank mobilised more than Rs. 10 Crores business under Co-lending arrangement with SREI for Co-origination of Priority Sector Loans -2 new SME Hubs operationalised for funding MSME Sector taking the tally to 10 SME Hubs

-Implemented "Interest Subvention Scheme for Mudra-Shishu Loans". Subvention of Rs. 2.03 Crore received till Feb'21 -Refinance from SIBDI/Mudra of Rs. 1732 Crs (Rs. 145 Cr @ 3.58%, Rs. 292 Crs @ 2.43%, Rs. 1000 Crs @ 2.94% and Rs. 295 @ 2.94%) taken in four Trenches

-MSME Policy modified as per Industry benchmark

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

-To improve credit underwriting, bank introduced Loan Processing System (LPS) for end to end digital processing of loan applications. Four MSME products namely PM

SVANidhi, UCO Trader, UCO Vyapar Samridhi and UCO Udyog Bandhu made live in LPS.

-Bank sanctioned Mudra loans of Rs. 2676 Crore and surpassed the target of Rs. 2500 Crore for FY 2020-21

-Bank including sponsored RRB sanctioned Mudra loans of Rs. 3780 Crore against target of Rs. 3700 Crore for FY 2020-21

-Bank introduced Minimum CRIF High Mark/CIBIL Score for MSME Loans

10. RETAIL BANKING

(Amt Rs in crore)
Product As on March 2020 As on March 2021 % Growth Y-o-Y
Home Loan 14,679 16,206 10%
Car Loan 1,507 1,748 16%
Personal Loan 538 748 39%
Other Retail Loan 8,499 9,835 16%
Total Retail 25,223 28,537 13%

-Total Retail Loan Portfolio registered Y-o-Y growth of 13%. Core Retail Loan Portfolio (excluding Pool & LRD) registered Y-o-Y growth of 18% -Focus Areas such as Home, Car and Gold (excluding Pool) registered Y-o-Y growth of 13%, 17% and 44% respectively -Cash Loan Scheme, Premier Education Loan Scheme, Gold Loan Scheme and Operational Guidelines of Retail Loan Hubs were improvised -Considering the increase in permissible LTV allowed by RBI for Gold Loans, Bank has introduced a special Gold Loan Scheme "UCO Swarna Rinn Dhamaka" wherein loan up to 85% of value of Gold was allowed. The Scheme was valid till 31st March and O/s Balance as on 31/03/2021 is Rs.1655 crore.

-To make Home Loan product more attractive, Bank has introduced Overdraft Facility in Home Loan Scheme. Salient features of the Scheme are that excess fund of Borrower in linked Savings/Current account would be transferred to Overdraft Home Loan Account and Borrower can draw excess fund from Home Loan Account. This reduces interest burden for Borrower and helps Bank in retaining high value customers -Owing Covid-19 pandemic, many organisations are allowing their Employees to work from Home. In such scenario, raising PSVR-II by visiting Borrower's Office may not be feasible. Considering this, PSVR-2 guidelines for Home and Car Loan Products were modified and were valid till 31st March 2021 -To enable field to Pre-Screen prospect at an early stage of Loan Proposal, Bank has introduced "SMS Based Customer Profiling Solution" wherein Bank staff sends an SMS to a designated Mobile Number and the Solution sends one of the four responses i.e. Y, N,R, NR through a return SMS -Considering the inherent risk in conducting Gold Loan Business and keeping in mind factors such as availability of Appraiser and Gold Safe, Bank has identified 1330 Branches to carry out Retail Gold Loan Business

11. BANCASSURANCE

-Bank is a Corporate Agent for Soliciting Insurance Business for Life, General and Health Segment. Bank is also an AMFI registered Mutual Fund Distributor.

-Bank is having 2 channel partners in each segment of insurance viz., Life insurance - Life Insurance Corporation of India and SBI Life Insurance Co. Ltd General Insurance: - The Oriental Insurance Co. Ltd and Future Generali India Insurance Co. Ltd.

Health Insurance: - Star Health & Allied Insurance Co. Ltd & Care Health Insurance Ltd.

For Group Credit Life Insurance Bank is having tie up with Kotak Mahindra Life Insurance Company Ltd to cover life risk of Home, Education and Retail Loan borrowers.

-Bank has launched Group Health Insurance Policies for indemnifying customers against hospitalisation expenses and Group Health Loan Protect policies for insuring loan repayment against health related expenditure. During the pandemic period COVID-19 bank has introduced Corona-Kavach and Corona Rakshak policies and issued 7217 such policies to the customers.

-Bank has taken initiative for IT Integration with Channel Partners for end-to-end seamless digital mode of sourcing of proposal and payment of premium resulting in reducing policy issuance TAT. Bank is in process to implement to mBanking solution for online booking of insurance policy.

-Bank increased the number of Specified Persons (SPs) during the fiscal year 2020-21 for augmenting Bancassurance Business. These Specified Persons are duly trained and certified by insurance Regulatory & Development Authority of India (IRDAI). We have identified 388 new Specified Persons, which will add to the existing strength of 391 SPs as of March 2021.

-Bank has tie-up with the following Nine Asset Management Companies:-

1. Kotak Mahindra AMC Ltd.

2. SBI Funds Management Pvt Ltd.

3. Nippon Life India Asset Management Ltd.

4. UTI AMC LTD.

5. HDFC AMC LTD.

6. Baroda Asset Management India Ltd.

7. ICICI Prudential AMC Ltd.

8. Franklin Templeton Asset Manangement (India) Pvt. Ltd.

9. Aditya Birla Sun Life AMC Ltd.

Business Performance under bancassurance Life, Non-life & Mutual fund Business; (01/04/2020 to 31/03/2021)

Sl Name of the Company Premium Collected Commission Earned No of Policy/ Folio
(Rs in Lakhs) (Rs in Lakhs)
1. Life Insurance Corporation of India 1524.15 226.94 1990
2. SBI Life Insurance Co. Ltd. 6969.97 737.28 14316
3 . Future Generali India Insurance Co. Ltd. 3996.06 520.83 181819
4 . The Oriental Insurance Co. Ltd. 216.26 28.03 10431
5 . Star Health & Allied Insurance Co. Ltd. 461.66 62.67 6691
6 . Care Health Insurance Ltd. 565.03 76.21 10615
7. Kotak Mahindra Life Insurance Co. Ltd. 2190 NIL 10622
8. Mutual Fund Business NA 7.96 NA

12. LEGAL MATTERS

The task of any Law Department in a banking institution is not only confined to furnishing legal advice or handling law suits of Banks before various fora of Law; they are entrusted with versatile legal works.

Law Department plays a role of sheet anchor in drafting, vetting, reviewing of documents, policies & guidelines effecting various domain of legal acumen in day to day Banking. Law Department puts in order the policies/guidelines that swathe the empanelment of Advocates, payment of Advocate Fees, settlement of claims of deceased account holders and missing persons etc, and preparing Handbooks on various topics of law, issuance of Circulars, follow-up & monitoring of litigations pending before various fora of law and to impart training etc.

The Law Department also caters to the specific needs of specialized Departments like Recovery Department, Information Technology Department, Retail Department, Credit Department, Stressed Asset Vertical Department, Strategic Planning Department, Finance Department, International Department etc., by Drafting/Vetting of documents of various contracts/ Service Level Agreements (SLAs), Software/Hardware procurement, various types of tie-up arrangements /new products etc. Besides, with a view to create awareness amongst the Field Functionaries, in the FY 2020-21 the Law Department has issued 37 Circulars and 65 Common letters regarding various amendments on Statutes and new Legislations. Further to align the Bank's loan documents with changing pace of legal dynamics, Department has examined documents related to UCO Securities and loan against FDR, Gold Loan etc. In addition to the above, the Legal Department has also catered to:

• Legal vetting of Complaints/FIRs filed by Bank in the fraud accounts related to Rupees 3.00 Crores & above;

• Attending to correspondences of the Ministry of Finance, Reserve Bank of India and Indian Banks' Association on different matters including new legislation/amendments in any Statute/Act;

• Extend its support to the Central Staff College as faculty in imparting training on varied topics of law;

13. RECOVERY

Gross NPA % of our Bank has been decreased to 9.59% in March, 2021 from 16.77% in March, 2020 thereby quantum of GNPAs has decreased to Rs.11351.97 Crore in March 2021 from Rs. 19,281.95 crore in March, 2020 respectively. The NNPA % of the bank has declined to 3.94% in March 2021 against 5.45% in March 2020.

During the FY 2020-21 the Bank has witnessed fresh slippages including addition to old NPA of Rs. 3137.55 Crore. Cash Recovery was Rs. 1168.30 Crore for the year ended 31st March, 2021. The total reduction in NPA through Cash Recovery & Upgradation of NPA during FY 2020-21 is Rs. 1621.65 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, NDND Scheme, SARFAESI Act, DRTs, Lok Adalats, NCLT, Country wide Mega Recovery Camps, Miking in specific locations, MAO campaigns, declaration of wilful defaulters, issuance of LOCs etc. were organized for speedy recovery.

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

(Rs in crore)

Particulars 31.03.2019 31.03.2020 31.03.2021
Cash Recovery 2991.52 2716.28 1168.30
Up gradation 2332.20 1592.39 453.35
Total 5323.72 4308.67 1621.65
Cash recovery in ML & Technical Write-off accounts 440.46 886.03 982.39
Gross NPA 29888.33 19281.95 11351.97
Gross NPA % 25.00% 16.77% 9.59%
Net NPA 9649.92 5510.66 4389.51
Net NPA % 9.72% 5.45% 3.94%

The total cash recovery plus upgradation for the year ended 31st March, 2021 is Rs. 1621.65 Crore as against Rs. 4308.67 Crore for the year ended 31st March, 2020. The cash recovery in technically written-off accounts is Rs. 971.10 Crore for the year ended 31st March, 2021 compared to Rs. 872.75 Crore for the previous year.

Recovery in Loss and Written Off assets has a direct impact upon the profitability hence Bank giving priority in monitoring / follow-up for recovery in such accounts.

13.2. Some Recovery initiatives:

-Bank has liberal Compromise Settlement Scheme for NPA and ML accounts having O/s Balance up to Rs. 5.00 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 is utilizing services of Enforcement & Recovery Agents and Business Correspondents (BCs) for effective and time-bound enforcement of action under SARFAESI Act and early resolution of NPA accounts.

-Bank has strengthened the Legal Management System with the objective to facilitate different departments at Head Office & Zonal Offices for monitoring status of SARFAESI actions, legal matters etc. 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 to augment recovery in NPA accounts.

-All eligible properties are uploaded and put for auction on 'e-Bikray' a common web portal of IBA (https://ibapi.in) (Indian Banks Auction Properties Information) only w.e.f.

01.04.2020.

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

-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.

-As on 31.03.2021, there are 298 accounts assigned to various ARCs, which exists in the form of Security Receipt.

These accounts have a book value of Rs.1465.01 Crore. No accounts were assigned to ARCs during FY 2020-21.

-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 Maharashtra State namely Maharashtra Government Agricultural Debt Waiver Scheme "Mahatma Jyotirao Phule Shetkari Karjamukti Yojana, 2019 (MJPSKY-2019)"

14. CREDIT MONITORING

Present economic situation has accentuated upsurge of bad loans in the banking industry and 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:-

1. 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.

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

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

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

5. As per the RBI's Resolution Framework for COVID-19 Related Stress, bank has implemented the Restructuring through seamless online process starting from Application to Sanction Level.

6. Bank has launched one Dedicated Dashboard for better Credit Monitoring at all level.

7. Bank has created model for IT base collection system for RAM segment accounts.

To improve upon functioning at the grass root level, bank has devised following strategic policy and guidelines: a) Operational guidelines for Credit Monitoring 2021-22 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 01.04.2021. c) Guidelines for empanelment and appointment of Stock & Book Debt auditors has been revised and put in place on 01.04.2021. d) 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 01.04.2021. e) 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) 2020-21. f) Engagement of Agencies for Specialized Monitoring and effective monitoring of Large Borrowal accounts with exposure above Rs. 250.00 Crore has been revised on 01.04.2021 after obtaining approval of the Board. g) 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.

15.RISK MANAGEMENT

Financial Year 2020-21, though commenced with challenges for Banks & Industry due to COVID impact, Bank had taken various initiatives and implemented a number of System & Procedures at Bank level to mitigate various Risk associated with Banking Business. Under the umbrella of Risk Management Department, verticals are actively functioning towards evaluation & assessment of various risks and its preventive measures by issuing circulars, SOP, Guidelines and Virtual Training modules.

Major scope of Risk Management Areas is as under, in line with BASEL III requirements:-

15.1 Credit Risk Management:

-Credit Risk Vertical (CRV) has been introduced to evaluate inherent credit risk in credit proposals before its fresh sanction and enhancement. The CRV model has been successfully made live in the system and is being used online for Risk Scoring based on 34 Risk Matrix. Bank is in process of integrating the entire Risk Management System especially with Early Warning Signal (EWS), Loan Management System (LMS) and Credit Rating Modules are in place in line with Enhanced Access & Service Excellence (EASE) requirements, under the PSB reforms agenda.

-Pricing of loan to Corporate Borrowers is linked with Risk Adjusted Return on Capital (RAROC) Model which has been made available online and is being used extensively. ALM cell is also fully integrated in terms of pricing all our Liabilities and Asset products linked with RBI policy rate which is market driven.

-Bank's Loan Policy is being updated from time to time with the approval of Board of Directors.

15.2 Operational Risk Management:

-Bank has identified Best practices at Industry level in Credit & Operational Risk areas. All 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.

-Online Real Time Operational Loss Events are being reported from field level for prompt mitigation of various Operational Risks.

-Zonal Office Level Operational Risk Management Committee has been formed to review the operational risk areas at field level and analysis of its Root Cause and its plugging thereof.

15.3 Market Risk Management:

-Bank has structured its Market Risk Policies to control and monitor their treasury functions which undertake market risk positions. Bank measures Interest Rate Risk in its trading book through Modified Duration, PV01 and VaR on a daily basis. Foreign Exchange Risk is also measured in terms of Net Overnight Open Position Limits (NOOP), VaR limit, AGL (Aggregate Gap Limit), Individual Gap Limit on daily basis. VaR and portfolio size limit are measured along with monitoring of our portfolio at transaction level, stop loss wise and dealer wise limit.

-Back-testing and Stress Testing of all the parameters associated with Market Risk have been done -Under stress testing framework, our bank conducts comprehensive stress of its trading book portfolio as well as interest rate risk in the banking book due to mismatch between rate sensitive asset and liabilities on quarterly basis, which generally impact the earnings/ Equity of the banks with the change in the interest rate in the market. We use Traditional Gap analysis, Earning at Risk kind of tools under Risk Management approach.

15.4 Liquidity Risk Management:

Bank has implemented the BASEL III framework on Liquidity Standards as LCR (Liquidity Coverage Ratio) and always ensures maintenance of adequate level of unencumbered High Quality Liquid Asset which can be converted into Cash to meet liquidity needs for a 30 calendar days' time.

15.5 Credit Rating Cell:

-Internal Credit Rating (ICR) Models have been made more robust by developing 14 Models in place of existing 7 Models. The same has also been approved by an External Agency.

-Our Rating Models are recalibrated in such a way that it is now almost at par with External Rating Agencies and minimises the notch differences. Now the rating migration and default analysis also undertaken and are matching exponentially with the Internal Rating.

Also credit audit on portfolio basis is conducted through online system as per the policy.

15.6 Fraud Risk Management Cell:

Fraud Risk Management Cell has taken initiatives to implement Enterprise wise Fraud Risk Management Solution (EFRMS) comprising of Risk Based Transaction Monitoring System (RTMS) for timely detection of potential fraud. The project will be implemented very shortly.

This Fraud Risk Management Group (FMG) is periodically analysing the root causes of fraud and identification of accounts as fraud by the Committee of Executives (COE) is done through evaluation and assessment of inherent fraud elements, if any.

15.7 EASE Performance:

The score of our bank under EASE 3.0 of PSB reform agenda (Co-ordinated by Boston Consultancy Group and IBA, also monitored by DFS, MoF, GoI) has improved over last years and our banks position is 7th among all PSBs as on 31-12-2020.

Bank has initiated various turn around strategies during the entire financial year towards improvement across all the parameters required for coming out of PCA as per RBI norms as on 31-03-2021. As on 31/03/2021 we are out of all the identified thresholds after infusion of Tier - I Capital by the Govt. Of India.

15.8 Other Initiatives:

-UCO Bank also unveiled 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 challans, drafts and account statements in major cities across India. During Covid-19 pandemic crisis, Bank implemented all the directives of Govt of India under Aatma Nirbhar Bharat, without loss of time and Emergency Credit Lines were also extended to MSME and Non MSME borrowers.

-Bank has assessed Risk appetite for

(i) Industry wise exposure and its ceiling

(ii) The State Government wise exposure ceiling (With/ Without State Govt. Guarantee)

(iii) Bank wise Exposure Ceiling

(iv) Country wise Exposure Ceiling

-Bank has shifted to External Benchmark Lending Rate (EBLR) for all Retail & MSME Loans which automatically passes on the benefit of Policy Interest Rate changes.

-Bank captured Risk Appetite Capacity in Internal Capital Adequacy Assessment Policy (ICAAP) Document duly approved by the Board considering the Budgeted Business Plan and Objective into account. Assessment and Evaluation Policy for Enterprise wise Risk Management has been framed to evaluate the risk parameters of the Bank on performance basis.

16. INFORMATION TECHNOLOGY, BPR & BT DEPARTMENT

16.1 ATMs/Debit Cards :

Following initiatives are taken for customer convenience:

• Launching of Rupay Select Card .

• 800 new Passbook Printing Kiosks have been installed at various branches.

• 400 new ATMs have been installed to increase operational efficiency.

• 95 New Cash Recyclers have been installed till date.

• SSOCT Migration from M/s Wibmo to M/s Yalamanchili.

• RBI ATM Control Measures implemented in all ATMs.

• Rupay card acceptance at RMA, Bhutan.

• SMS to customers who are using other bank ATMs.

• RBI card controls for enabling / disabling of debit card channel and transaction limit.

• Introduction of Gift Card.

• Prepaid card API integration.

• Introduction of UCO My Moment Card(Image Card)

• Debit card issuance in Partnership account.

• Bharat E-Commerce Payment Gateway phase-1 feature implemented.

• Acceptance of Rupay Card in Singapore through POS

Channel.

16.2 M-banking :

Features implemented in Mobile Banking:

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

• Implementation of Chatbot.

• SI in PPF Account Opening

• Seek Feedback/Service Request in M-Banking.

• Change Branch/ change communication address in M-Banking.

• Third Party PPF fund transfer in M-Banking.

• PPF standing instruction in M-Banking.

• Video Life Certificate in M-Passbook.

• UPI GST & I am Merchant feature.

• Add Nominee in M-banking Plus.

• Apply for SBI Life Insurance in M-banking Plus.

• Allow to add PPF beneficiary in Beneficiary Management in Mbanking Plus.

• Add on card apply in Mbanking Plus.

• UPI Limit Setup in Mbanking Plus.

• All in One QR facility in Mbanking Plus.

• IMPS limit setup in Mbanking Plus.

• Positive Pay in Mbanking Plus.

• IMPS @ Branch in CBS.

16.3 E-Banking :

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

• PPF Account opening through e-Banking

• NPCI e-Mandate through e-Banking.

• Implementation of standing instruction for PPF through e-Banking.

• BBPS implementation in UCOPAY+ wallet

• Integration of 2 merchants in Smart pay module.

-Amrapalli Buyer's project- Funds collected Rs. 450 Crores

-SAMS- Funds collected Rs. 100 crores.

16.4 Other important facility implemented for Customer Convenience

• Introduction of green Channel Banking.

• Implementation with Broking Partners Online share Trading platform in order to provide Online Share Trading facility to Banks DEMAT Customers

• Integration with SBI Life & Religare Insurance Company in order to collect premium through branches has been completed and made live on 27th August 2020

• Development of Web Module for online Application of Debit Card.

• Development of Online Mandate Management System through e-Banking

• Development of Positive Pay System in Internet Banking and sending SMS to customer after submission of Positive Pay System.

16.5 Phone Banking:

Bank introduced IVR based Phone Banking solution called

"UCO SAMPARK" through toll free number 18001030123

(New SIP Trunk) 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.

Following new facilities have been introduced under Phone Banking:

• ATM Card Status

• Cheque books dispatch status

• Cheque Book request

• Stop Payment of Cheques

• SMA0, SMA1, SMA2 follow up calls has been initiated through agent calls and blaster messages from Feb 2021

• Lead generation

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

Lead Generation through Missed Call number 7666399400

Lead Generation through SMS facility number 7045022400

Opening of new call centre facility at Bangalore and New Delhi Zonal Offices.

16.6 Loan Management System:

Bank has now incorporated new Loan Management System for quick and easy processing of loans thus making it convenient for both staff and customer to process loans without delays and minimal faults. The following loan schemes have been made live in the module:

1. Gold Loan

2. Car Loan

3. UCO Cash Loan

4. Pension Loan

5. Housing Loan

6. PM SVANidhi

7. UCO Bandhu

8. Vyapar Samridhi

9. UCO Trader 10. KCC

16.7 Upcoming Projects

1. Finacle 10.x - Bank is in process of upgrading its Core Banking Solution which is Finalce 7.x at present to the latest and most established version 10.x. With this upgradation Bank will be in a position to harness various third party solutions through easy integration and well defined robust application.

2. Upgradation of eBanking to FEBA - Existing eBanking solution is obsolete in comparison to our latest and most up to date mobile banking plus application. To offer secure and versatile Banking experience to our tech savvy customers, we are upgrading our e-Banking platform to FEBA solution offered by Infosys.

3. Corporate Mobile Banking - to provide niche Banking experience to our Corporate Customers, Bank is bringing Corporate Mobile Banking facility which is going to be handy solution for busy Corporate clients.

17.CYBER SECURITY

Bank has Cyber Crisis Management Plan in place for responding to Cyber Attacks and Cyber Terrorism such as 'zero-day' attacks, remote access threats, and targeted attacks. It also helps in ensuring rapid identification, information exchange, swift response and remedial actions to mitigate and recover from cyber threats impacting critical business functions.

Cyber Security Policy is in place to protect Bank's information assets from cyber threats, whether internal or external, deliberate or accidental. It provides the strategic objectives for securing Bank's cyber space.

Bank has Information Security Policy in place to provide direction and support in accordance with business requirements, relevant laws and regulations:

• To prevent unauthorized disclosure of information stored or processed on Bank's information systems (CONFIDENTIALITY);

• To prevent the accidental or unauthorized deliberate alteration or deletion of information (INTEGRITY);

• To ensure that information is available to authorized persons whenever required (AVAILABILITY).

Assessment on cyber security awareness is carried out periodically through monthly online tests, online quizzes, surveys etc to evaluate cyber quotient of staff members.

Table Top Exercises are carried out to assess the preparedness and efficiency of Branches and Offices in detecting and responding to cyber incidents like receipt of phishing email / SMS.

Employee awareness is ensured through periodic webinars, video conferencing and programmes focussing on dissemination of awareness on emerging cyber threats and best practices thereof.

Best practices in respect of cyber threats in the cyber risk landscape are posted in Official Social Media Pages of our Bank like Facebook, Twitter and lnstagram to enhance customer awareness on periodic basis.

Push notification messages are sent through Mbanking Plus opp for enhancing awareness of customers.

A handbook on "Cyber Smart" has been published to spread awareness amongst employees. The book puts special emphasis on cyber security threats & best practices.

Twin courses - 'Cyber Security' and 'Information Security' -focussing on cyber security and information security awareness respectively have been introduced in E-Learning System of the Bank.

Advisories issued by CISO Office are uploaded in 'Cyber Security Awareness Corner ' in UCO Online Portal to provide easy accessibility to employees for their reference.

A fortnight series namely 'Cyber Tales by Tenali' has also been started. Modus operandi of recent cyber malpractices with an illustrative graphic along with the best practices is shared through this series.

Employee / Customer awareness has also been enhanced through various other touchpoints viz.

• 'Cyber Security Mantra of the Day' comprising of awareness snippets to ensure re-skilling of cyber hygiene of our staff members.

• Showcasing of cyber security best practices in HRMS login page to bring security in the culture of the employees.

• 'Cyber Patrika', consisting of latest Cyber Fraud / IT Security related reviews and precautionary tips based on those frauds.

• Displaying of advisories in Branch / ATM premises

• Uploading cyber awareness related advisories in 'Cyber Security Awareness Corner' in Official Website of Bank

18. CUSTOMER SERVICE

Standardised Public Grievance Redressal System (SPGRS)

SPGRS is available for the public to lodge complaints online. 98.79 % of the total complaints received during the financial year 2020-21 have been redressed.

Right to Information, 2005

Under RTI, a total of 1080 application were received, during FY2020-21. There were 234 appeals made under RTI.

Video Know Your Customer (VKYC)

Bank has started instant Saving Bank Account opening with Video KYC. Video KYC allows customer verification using facial matching by automated AI Face match and verification of documents and signature all in real time. Out of total 32,040 saving account opened through Mobile App (UCOPAY+), 4441 customers have availed VKYC option for KYC verification.

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 available in our Bank, viz. Finacle (Domestic and Overseas), GBM, LAPS, Domestic Treasury, E-Banking, Mobile Banking, M-Wallet etc. and performing as a one stop solution for providing information to the organization for the purpose of data analysis, strategic planning, evolving the business plans, its implementations and TOP Management level decision making.

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 made available for business verticals - Credit, Risk Management, Recovery, Treasury, International, Overseas and Finance for control, monitoring and reporting day to day business parameters.

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

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

Department has developed automated process for SLBC data generation /submission directly to SIBC portal as per standardized format.

Bank has 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. Integration of CIMS end to end connectivity successfully implemented, 1st phase of reports automation process is under progress.

Department has initiated the process of implementation of data analytics and BI module by Data ware housing project.

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 intensified and vigorous publicity campaigns throughout the FY 2020-21. Liability products and Asset products viz. UCO Home Loan, UCO Car Loan, UCO Swarn Rinn, UCO Education Loan, PMMY, Stand Up India, KCC etc. were prominently promoted during the period.

With a thrust on routing the transactions through Alternate Delivery Channels (ADC) and making banking more personalized 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 Outdoor 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 78th Foundation Day:

The Bank completed 78th glorious years of service to the nation on 6th January, 2021. The occasion was celebrated with much enthusiasm and vigor across the country and overseas centers. 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 2020-21, Corporate Communications Department organised Virtual 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 2020-21 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, 2021 stood at 22012 including employees serving overseas. We have 12048 Officers and 6985 Clerks, out of which, 3242 are SC, 1658 are ST and 4313 are OBC. There are 2979 Substaff in our Bank.

Out of total staff, 493 employees are Differentially-abled and 1455 belong to the Minority Communities. Women employees (5875) constitute 26.68% of the Total Workforce as on 31st March, 2021.

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 2020-21.

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 2020-21, as per GOI guidelines, Bank has imparted Pre-promotion Training to 1549 candidates for inter-scale promotion of officers (SC - 506, ST - 234, OBC - 730 and PWD - 79); 568 candidates for promotion from clerical to officers (SC - 164, ST - 114, OBC - 281 and PWD - 12.

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.

21.4 Recruitment Cell:

In the year 2020-21, Bank has recruited 343 Probationary officers. Out of total 343 officers, 127 officers are females. 471 clerks have also been recruited during the financial year 2020-21. Out of total 471 clerks 134 are females. Bank also proposes to recruit 157 Probationary officers and 179 Clerks under CRP-IX reserve list for year 2020-21, and 350 Probationary officers and 470 clerks for 2021-22 under CRP-X.

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 2020-21, 48 Executives, 2425 Officers and 1444 Clerks, totaling 3917 were trained in Internal Training programmes conducted at our Central Staff College (CSC) situated at Kolkata and 7 Regional Training Centres, 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 7791 employees were trained in External Training programmes which helped them in acquiring a global competitive edge.

End Users Training on Finacle 10.X was conducted at Bank's Training Colleges, together with External Training Institutes of Amity and Times Professional across the country.

Due to the wake of outbreak of pandemic COVID-19, training (both internal and external) was suspended during the 1st quarter of 2020. Training was resumed through online mode from July, 2020 and with gradual easing of restrictions due to COVID-19, offline training resumed at Training Centres. In FY 2020-21 some important Training programmes like Online Certification Programme in IT & Cyber Security for Board Members, CXO and Senior Management, Online Programme in International Trade Financing, Leadership Development Programme, and Online Programme for PWD Employees etc.

were conducted. Cyber Security, Customer Service, Branch Profitability, Digital Products, Ethics, Motivation etc. have been included in all Internal Training Programmes.

In FY 2020-21, total of 235 employees were paid honorarium/ incentive for passing Bank approved courses.

21.6 Launch of Role-Based E-Learning Programme:

In order to ensure continuous upgradation of knowledge and skills of staffs, mandatory role-based E-Learning programme was launched for all employees. The E-Learning programme is available through both mobile app and web.

At present, 49 courses have been made active in the e- learning portal. There are total of 19485 (Officers -12261 + Clerks -7224) users in the e-learning portal.

Monthly Online test has been conducted through the E-Learning system since July, 2020. Apart from the regular courses, various, quiz/ competitions are also conducted through the E-Learning system.

In order to inculcate a learning culture and motivating the workforce for their career growth through continuous personal and professional development, bank has launched a system for appreciating and incentivizing employees for completing e-learning courses. In the first phase, first fifty (50) users who successfully completed highest number of courses, in e-learning portal till August, 2020, have been identified for paying honorarium.

21.7 Internal Complaints Committee (ICC):

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 2020-21, total complaints received is 2.

22. AUDIT & INSPECTION :

a) Revenue Leakages

During FY 2020-2021, revenue leakage of Rs. 25.40 Crore has been detected and recovered through our various audit system such as concurrent audit, RBIA and revenue audit.

b) Risk Based Internal Audit (RBIA)

1) As per Audit plan for FY 2020-21, total 2376 no. of branches were to be covered under internal audit which includes 282 branches which was the spillover of FY 2019-20. On account of COVID-19, the audit work was disrupted from beginning of the financial year till September, 2020 as a result of which there was a huge pendency of RBIA of Branches as on 30.09.2020. However, due to constant follow up and micro level management of Audit plan by Audit & Inspection Department, the RBIA has been conducted in all the Branches as per the annual audit plan and there is no pendency as on 31.03.2021.

2) Risk Ratings of Branches have been analysed on regular intervals. In case of deterioration of Risk rating of Branches (Low to medium, medium to High), necessary action is being initiated on the basis of Risk rating parameters in order to protect the interest of the Bank. Out of total 1979 RBIA reports released during FY 2020-21, only 15 branches were rated under high risk category and remaining 1964 branches were rated under Low/Medium risk category.

3) During the FY 2020-21, 1051 RBIA reports were closed and as on 31.03.2021 only six RBIA reports are pending for Closure beyond the stipulated time period i.e. 120 days from the date of release of report.

c) Concurrent Audit

A total of 959 branches/offices have been approved for conduct of Concurrent Audit for the audit period Oct'20 to Sep'21 where 953 CA Firms / Ex-Staff have been engaged for conduct of monthly Concurrent Audit of 909 branches (including 4 Offices) and quarterly concurrent audit of 50 Branches/Offices. The engagement in respect of 526 CA Firms / Ex-Staff has been renewed and fresh engagement of 427 CA Firms / Ex-Staff has been made during the current financial year for the above audit period.

d) Offsite Surveillance Cell (OCAS)

1) OCAS cell of Audit & Inspection Department has been monitoring alerts generated by system and compliance submitted by Branches on daily basis. Apart from this, OCAS cell is also monitoring transaction in various suspense accounts/office accounts through backend data mining. During FY 2020-21, OCAS cell has detected erroneous interest application in various Loan/SB/TD accounts and recovered Rs. 37.01 Cr which was credited in P/L accounts of Bank.

23. VIGILANCE DEPARTMENT

23.1 Preventive Vigilance Initiatives taken by the Organization

Following preventive vigilance initiatives have been taken by the Bank during the year 2020-21

• 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.

• A mock phishing drill was conducted for all employees of the bank wherein a message was sent containing a phishing link. This was followed up by a quiz on 'Phishing Awareness' where the participation of those employees who had fallen prey to the mock phishing attack was mandatory.

• Certain specific areas vulnerable to fraud and/ or procedural lapses/ irregularities were looked into for instance physical cash loading in ATMs and the working of Business Correspondents through sample checking across branches and the observations sent to the Concerned Departments for systemic improvements.

• As part of the belief that knowledge and information sharing are the major thrust areas to prevent vigilance ' failures'. 'Monthly Advisories' and a quarterly E-Magazine ' UCO Vigil' have been introduced/ launched wherein certain cases and their modus operandi are brought into the public domain.

• A sustained drive has been initiated under *Alert UCOite ' concept where loss prevention due to ' near misses' has been paid due importance. Instances of fraud prevention are encouraged to be shared by working at ground zero.

The incidents will be published in the Quarterly Magazine UCO Vigil serving as a crucial exercise in preventive vigilance and encouraging a steady flow of information sharing.

• Vigilance Awareness Week (from 27.10.2019 to 02.11.2019) saw new methods of outreach adopted which were virtual in nature due to the necessity of maintaining COVID protocols. Several Zones organized webinars taking on board staff members on topics ranging from Cyber Security to Preventive Vigilance and Ethical Behaviour, all under the broad framework of the chosen theme for the year "Satark Bharat, Samriddh Bharat". Key note speakers were experts in their respective fields. Insightful inputs were disseminated from the platform by speakers from Government bodies/ State Police or professors from esteemed Universities.

• Essay competitions, debates, poster making competitions saw young school children and college going youth participate enthusiastically.

23.2 Systemic Improvements introduced:

Monthly advisories directly point to areas where irregularities are occurring and can occur in future and hence the areas where systemic improvements can be made. Based on these and other observations made during investigations/ inspections, the following systemic improvements have been made:

• IT based application for easy monitoring of Annual Property Returns has been introduced which will compare any 'additions' and/ or deletions' made in immovable/ movable property returns filed. This will do away with manual intervention in scrutinizing the same while comparing data over the years.

• Maintenance of No Lien Accounts at branches in according to Customer ID for proper and periodic reconciliation.

• Turn Around Time (TAT) has been specified to ensure time bound disposal of Disciplinary cases as per the Commission's guidelines.

• Advisory on ATM Cash Management and review of operations by Concerned Department.

24. OFFICIAL LANGUAGE

The Bank took proactive steps to implement the Official Languages Policy of Govt. of India. 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 it. Bank has also given preferred attention to comply with the instructions of Department of Financial Services, Ministry of Finance, Govt. of India.

24.1 Sankalp Rajbhasha- 2020-21

With the Inspiration and active support of Top Management of the Bank Sankalp Rajbhasha Action Plan-2020-21 continued its journey towards achieving the target of winning Rajbhasha Kirti Puraskar / Rajbhasha Kshetreey Puraskar awarded by Official Language Department, Govt. of India in recognition for good work in the field of Official Language.

Head Office as well as Zonal Offices actively implemented all the items enumerated in the Sankalp Rajbhasha Action Plan -2020-21, the outcome of the endeavour are as under:

1. UCO Bank G D Birla Memorial Lecture

Our 24 Zonal Offices organised lectures by eminent VCs, Scientists, Economists, Retd. EDs & GMs of Banks, Professors and several distinguished Scholars on various relevant topics. like

2. UCO Matribhasha Samman

Our 11 Zonal Offices honoured 19 candidates of 8 States with Rs. 5000/- and a memento who cleared Civil Services Exam of State Public Service Commission through Hindi/ Regional Languages.

3. UCO Rajbhasha Samman

Head Office and 28 Zonal Offices honoured 58 students of different Universities in India with Rs. 5000/- and a memento who topped MA (Hindi) Exam.

4. Sponsoring Popular Hindi Programme

Head Office supported 26th Hindi Mela, Kolkata the largest Hindi Programme organised for seven days for Students in India with Rs. 1.00 Lakh. Besides this, our some Zonal Offices also supported Hindi Programme of various Universities at their centres with Rs. 10000/- each in this pandemic situation also.

24.2 National Hindi Seminars & Competitions

Bank organised a National Level Hindi Essay Competition on 'Corona Mahamari Aapda- Bankon ki Bhumika & Samajik, Arthik Paridrishya me Badlaw. 6 (six) National level Hindi Seminars were organized wherein Shri Sandip Arya, Dir. Implementation, Dept. of OL, Govt. Of India, Shri O P Agrawal, Retd. AGM, RBI & renowned Microsoft Certified Person, Shri K P Sharma, DD, Implementation & Shri Rajesh Srivastav, DD, Implementation, Dept.of OL were invited as Chief Speaker on various Technical & General topics including Kanthasta- Memory based Translation Tool.

24.3 Hindi Training • Approx. 10700 Officers and Clerks were trained through 180 Online Hindi Workshops conducted by HO & ZO's to do their day to day work in Hindi. Also, approx. 750 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. 75 Officers and Clerks passed Prabodh, Praveen & Pragya Hindi Exams of Govt. of India.

24.4 Publication

Our Hindi Magazine 'Anugoonj' is continuously being published in which Regional Languages Articles are also included. All our Zonal Offices also brings out their Zonal Hindi Magazines regularly along with Regional Languages articles. Altogether, they reflect the activities of the Bank and creativities of the Staff at same time.

Apart from 2 (two) e-magazines namely, UCO Dainiki (258 issues), a daily publication and UCO Masiki(10 issues), a monthly publication, HO brought out a Quarterly e-Magazine namely UCO Sangam (1 issue) as per Govt. Of India guidelines. All are being circulated to all our branches and offices. All Zonal Offices are also bringing out their UCO Dainiki and UCO Masiki for their respective Zones.

24.5 Town Official Language Implementation Committee (TOLIC)

Head Office, being the convenor of TOLIC (Bank), Kolkata, our Ajmer & Bhagalpur ZOs and our LDM, Roopnagar, LDM, Bilaspur & LDM Solan under Chandigarh, Dharmashala & Shimla Zonal Offices are convenor of TOLIC at Ajmer, Bhagalpur, Roopnagar, Bilaspur and Solan respectively.

Shri Arup Raha, Air Chief Marshal (Retd), Indian Air Force was invited as the Speaker in a webinar on 'Crisis, Leadership & Success' held in August, 2020. Vidyasagar Matribhasha Samman' along with a memento & Rs. 25000/-was conferred to Late Usha Ganguly in 69th TOLIC Review Meet held in August, 2020.

It is matter of pride for TOLIC (Bank), Kolkata that Hon'ble Smt. Draupadi Murmu, Governor; Jharkhand was invited as Chief Guest in the 70th Half Yearly Review Meet held Online on 15th October, 2020.

An International webinar on "Hindi Language & Culture in Global Scenario" was organised on 22nd January, 2021 on the occasion of Vishwa Hindi Divas. Dr. Meenakshi Jolly, Joint Secretary (Rajbhasha), OL Deptt. MoH, GOI was invited as Chief Guest & Prof. Vinod Kumar Mishra, General Secretary, Vishwa Hindi Secretariat Mauritius was Special Guest in this webinar. In joint celebration of International Matribhasha Divas & International Women Day, an international webinar on 'Matribhasha Aur Hamare Sanskar' was organised on 8th March, 2021. A well-known writer of Hindi Literature Smt. Madhu Kankariya was invited who joined from Dhaka, BanglaDesh.

24.6 OL Inspection

Head Office inspected 31 Zonal Offices- Ernakulam, Bengaluru, Suri, Bhagalpur, New Delhi, Dehradun, Begusarai, Ranchi, Meerut, Balasore, Sambalpur, Ahmedabad, Kanpur, Hooghly, Coimbatore, Indore, Bhopal, Surat, Patna, Varanasi, Burdwan, Salt lake, Haryana, Jalandhar, Nagpur, Jodhpur, Ajmer, Chandigarh, Shimla, Dharmashala & Hyderabad through online. Similarly, Zonal Offices in altogether inspected 2885 Branches in their respective Zones.

24.7 Achievements

• UCO Bank, Head Office being the convenor of TOLIC

(Bank), Kolkata was awarded Second Prize- Kshetriya Rajbhasha Puraskar by Department of OL, Ministry of Home Affairs, Govt. of India for better implementation of Rajbhasha for the year 2019-20 amongst all TOLICs in Eastern Region.

• Our Zonal Offices- Indore, Patna, Varanasi, Mumbai, Surat, Bengaluru, Hyderabad, Jorhat, Sambalpur, Jawaharganj Branch under Bhopal and Faridkot Branch under Chandigarh Zone won First Prize of their TOLIC.

• Our Raipur ZO, and Roopnagar Branch under Chandigarh Zone won 2nd prize of their TOLIC.

• Our Jodhpur ZO, Ahmedabad ZO, Ernakulam ZO, Noida Branch under New Delhi Zone, Solan Branch under Shimla & Ghazipur Branch under Varanasi Zone won 3rd Prize of their TOLIC.

• Our Jaipur ZO, New Delhi ZO, Chandigarh ZO & Kullu Branch under Shimla Zone won Consolation Prize of their respective TOLIC.

• Apart from this, our several staff members from Head Office & different Zones won 12 First, 34 Second, 27 Third and 21 Consolation Prizes under various competitions organised by TOLICs all over Country. Further, our staff won several Prizes - five First, three Second and five Consolation Prizes in All India Inter Bank Hindi Essay Competitions organized by Bank of Baroda, SIDBI, Indian Bank, Punjab National Bank & UCO Bank thus enhancing the image of the Bank among all Banks.

24.8 New Initiative

• As a part of Automation, the submission of Quarterly Progress Report was made online through Single Sign On platform. All branches & ZOs are now submitting their QPRs through SSO. Also, the submission has been linked with

APAR i.e. timely submission will ensure full marks to all Officers of branches & Zonal Offices in their APAR.

• To improve the Hindi knowledge, all Officers up to DGM level have to pass one Hindi course through e-learning during the entire FY. This has also been linked with APAR.

• To honour the Spirit of Rajbhasha as contained in the Constitution of India, Shri A K Goel, MD & CEO launched the opening of Bank's website through Hindi language on 14th September- National Hindi Diwas. Now, Bank's website opens in Hindi first and to see in English, one has to select the English language.

24.9 Miscellaneous

• Bhartiya Bhasha Sauhard Swaroop Hindi Pakhwada/Mah was celebrated by Head Office as well as all Zonal Offices with enthusiasm and zeal in the month of September, 2020.

An All India Online Rajbhasha Gyan Competitions for all cadres including GMs were organised during the month. Chief Guest Prof. Shambhunath, Director, Bhartiya Bhasha Parishad, Kolkata was honoured with 'UCO Raja Ramamohan Roy Bhasha Setu Samman' on this occasion.

• Official Language Officer's Conference of the Bank was held on 19-20 March, 2021 at Central Staff College, Kolkata.

The Conference was inaugurated by Shri Atul Kumar Goel, MD & CEO. Shri Ajay Vyas, Executive Director expressed his view on the topic of 'Team Spirit, Leadership & Success'. Shri B L Meena, Director-Implementation, Dept. of OL, Govt. Of India also graced the conference online. The Conference was held under the able guidance of Shri Naresh Kumar, General Manager- HRM, PSD & OL and Shri Manohar Padhi, Principal, CSC, Kolkata.

25.Marketing

Marketing Department has been introducing various initiatives and launching various campaigns and from time to time to Promote Retail Asset, Liabilities and Digital Banking Products.

Apart from that in Campaign mode, there has been consistent emphasis on Brand building of our Bank through Marketing Collaterals e.g. Video, Audio, Presentation, One pager, Comparative Chart etc.

A Multidimensional approach towards the Marketing has been followed leading to significant popularity and business development.

Bank has now designated Relationship executives at all branches for promotion/customer awareness of our products to customers and also provide personalized experience to them.

The Gist of Performance of various initiatives, campaigns and Important Event are as follows:

UCO Realty: On foundation day, Launch of website (www.ucorealty.com) and e-magazine for approved builder projects. The initiative aims to increase the home loan portfolio by increasing builder project approvals and to provide easy access to properties across India with quick finance by UCO Bank.

Lead Generation Management System: A System has been stablished to track and monitor the progress of leads generated from various channels (Call, SMS, Website, Employee referrals, etc.) • 'HOME FEST' has been launched to increase the retail home loan portfolio, a total number of 7691 (amount Rs. 1553 Cr) Home loan has been sanctioned in approximately 3 months.

'CAR FEST' has been launched to increase the car loans, a total number of 5977 (amount Rs. 411 Cr) car loan has been sanctioned in approximately 3 months.

'Swarn Rinn Dhamaka' campaign has been a success with Rs. 1123 Cr Gold Loan Portfolio increase in 4 months period.

UCO Bank SBI Co-Branded Credit Card: After successful staff phase, now UCO SBI Co-Branded Credit Card will also be shortly available to customers of the bank.

26. Transaction Banking

Against the allotted Digital target of 25.19 Crores by Ministry of Electronic & Information Technology (MeitY), Bank has done 30 Crores Digital transactions. (As per parameter set by MeitY).

• Bank has launched Soft POS facility through "UCO MGalla" app on Android mobile phone. Total 574 merchants have been on boarded to soft POS .

• Bank has launched its official "Linkedin" page in October 2020 and total followers reached: 7 K • Bank has revamped its corporate website www.ucobank.com to make it more user friendly & interactive.

• Introduction of Value added services like Amazon Pay/ EMI Payments/Sodexo in POS Machines.

• Introduction of Direct Selling Agent (DSA) for POS Merchant On-boarding.

• The Number of merchant onboarding to POS during FY 2020-21 is 3875.

• Good jump in Transactions Value through online fee collection module from Rs. 1.66 Crore to Rs.195 Crore.

• Total Debit Card Issued/Reissued during FY 2020-21: 25.39 Lac

• New Registration in Mobile Banking during FY 2020-21: 14.52 Lacs

• Achieved Target given by MeitY for Digital Transaction continuously for last three years.

• Social Media Followers status have increased significantly during FY 2020-21

Social Media Growth
Facebook 11 K to 18 K (Growth of 64%)
Twitter 7.6 K to 13.5 K (Growth of 78%)
You Tube 2.3 K to 7 K ( Growth of 204%)
Instagram 0.8 K to 8 K ( Growth of 900%)
Linkedin 0 to 7K

27. GENERAL ADMINISTRATIVE DEPARTMENT

Bank has taken initiative for centralized rent payment of branches, ATMs and other administrative Buildings on pan India basis to check and balance the rental expenditure as well as minimize the pendency of renewal of lease. The Centralized Rent Payment System (CRPS) module has been implemented and made live since January 2020 onwards, and the rent payment related to branches, ATMs and other Administrative offices is being made centrally by Head Office. The CRPS system is now stabilized and streamlined, and running smoothly.

28. COMPLIANCE DEPARTMENT

Compliance Functions mandated by the Reserve Bank of India and such 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 2020-21, Compliance Test Checking (CTC) was undertaken in all the 3072 regular business Branches and forty-two Zonal Offices. All Branches/Offices have been sensitized about the need for ensuring timely Compliance functions. Critical issues are discussed at appropriate levels before being reported to the Regulatory/Statutory Authorities, thus enhancing the system efficacy.

A meeting between SSM, RBI and other RBI team members along with GM, Compliance and Nodal Compliance Officers from Corporate departments was held on 12.04.2021 to discuss issues relating to compliance of inspection under RBS Cycle 2020. Clarifications were provided by SSM.RBI on several points raised by Compliance Officers.

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.

29. Future Plan of the Bank

The year 2020-21 witnessed unparalleled crisis with the COVID-19 virus and when the condition in the country was improving, the ferocity of India's second wave of Covid -19 infection has shaken the nation once again and is posing increased risk for India's fragile economic recovery and banks. The operating environment for banks will most likely remain challenging against this backdrop. This second wave could dent the sluggish recovery in consumer and corporate confidence, affect asset quality and reduce loan demand.

It has been a very testing time for the people working in the Banks in discharge of their duties in the essential services purview of the state and are exposed to great risks. There has been significant economic fallout due to continuous lockdown in many parts of the country. Bank has tried to extend Covid-emergency line to MSME and corporate borrowers extending moratorium on Payment loans and concession in interest rate and other loans related benefits. Banks will focus to strengthen its balance sheet which will create sustainable profit in future. UCO bank has recently launched three dedicated products namely "UCO Sanjeevani", UCO Aarogyam and UCO Kavach for health care sector, which provide loans of up to Rs. 2 crore for setting up Oxygen Plant, up to Rs. 100 crore for creating health infrastructure and Rs. 5 lakh for individual infected with COVID-19. It has also launched a deposit product, offering an interest of additional 0.30% for a limited period till end September. The bank has announced a compensation of Rs. 20 lakhs as a financial assistance to family members of staff for the unfortunate death due to Covid-19, term loans to purchase oxygen concentrator and interest free salary advances.

Notwithstanding the setback suffered in H1' 2020-21, Indian economy bounced back rapidly in Q3 & Q4 of FY' 20-21 signifying the resilience and now India's real GDP growth is projected by RBI at 10.5% in 2021-22. Macro indicators too predict robust credit growth as well as deposit growth in the new fiscal year.

UCO bank has huge potential to grow in line with GDP growth estimates and we hope that Bank will exhibit discernible growth in all business parameters during the FY 21-22. Fresh equity infusion of Rs. 2,600 cr by Government of India has made capital position of bank comfortable to pursue growth aggressively. Bank will focus in this fiscal year on the following broad parameters:

• Drive higher business growth and increase market share by leveraging technology for customer acquisition, enhanced underwriting standards and also generate leads across RAM segments.

• Match financial savings preferences of customers' by launching new products & improving service standards to stay competitive in the market and boost low- cost deposits.

• Effectively manage asset quality through robust credit monitoring and adopt all available measures to boost recovery

• Upgrade technology and deliver quality services to customers and also collaborate with leading Tech. companies to take us to the forefront of digital innovation.

• Cost management and optimum use of capital.

In 2020-21, recovery to be step up and in addition to NPAs, Bank's stressed assets are currently at a high level and concerns for Bank and will be addressed promptly, otherwise they can destabilize the growth plans and can invite adverse observations from our stakeholders. In 2021-22, banking system will continue to play a vital role in reconstruction of economy through credit deployment. UCO Bank will have a focused approach for an inclusive growth along with reduction in stressed assets. Bank has to face many challenges ahead but owing to our stable fundamentals and the strength we possess to overcome challenges.

30. Board of Directors

30.1 REPORT ON 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.

30.2 Changes in the Board of Directors

• The tenure of Dr. Arvind Sharma, RBI Nominee Director of the Bank ended on 28.09.2020.

• The tenure of Dr. Asish Saha, Part-time Non-Official Director ended on 26.12.2020.

• Dr Tuli Roy appointed as RBI Nominee Director on the Board we.f 28.09.2020.

• Mr Ishraq Ali Khan appointed as Executive Director w.e.f 10.03.2021.

• The tenure of Shri K Rajivan Nair, Shareholder Director ended on 01.12.2020. He was again appointed as Director under Shareholder Category w.e.f 01.02.2021 for a period of three years.

30.3 Meetings of the Board of Directors

During the FY 2020-21, fourteen 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:

Sl.No Name of the Committee No. of meetings held
1. Management Committee of the Board 12
2. Audit Committee of the Board 07
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 07
6. Customer Service Committee of the Board 05
7. Committee on HR Related Issues of the Bank 04
8. Nomination and Remuneration Committee of the Board 01
9. Committee of the Board for Disposal of Appeal Cases against Non-Promotion 01
10. IT Strategy Committee of the Board 05
11. Board Level Committee for Monitoring Recovery in NPA Accounts 07
12. Committee of the Board for Disposal of Appeal Cases 03
13. Review Committee (Wilful Defaulters) 02
14. Performance Evaluation Committee of the Board 03
15. Board Level Credit Approval Committee 55

30.4 Statement of Directors' Responsibility

The Board of Directors confirm that in the preparation of the annual accounts for the year ended March 31, 2021, 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 judgments 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, 2021. 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.

30.5 Acknowledgements

The Board of Directors of the Bank welcomes Shri Ishraq Ali Khan, Executive Director and Dr. Tuli Roy, Director, nominated on the Board during the year 2020-21 and look forward for their valuable inputs towards the growth of the Bank. The Board acknowledges the valuable contributions of Dr. Arvind Sharma, Director and Dr. Ashish Saha, Director whose tenure completed during the financial year 2020-21. The Board also welcomes Dr. Sanjay Kumar, Director, nominated on the Board on 13.05.2021 in place of Shri Anand Madhukar, Director. The Board acknowledges the valuable inputs and contribution of Shri Anand Madhukar whose tenure concluded on 13.05.2021.

The Board thank our customers, vendors, shareholders, business associates and correspondent banks for their continued support during the year. The Board remain thankful to the Government of India, Reserve Bank of India and other regulatory authorities for their support and valuable guidance and look forward to their continued support in the future.

The Board also thanks the staff unions/associations for the support extended by them. The Board place on record their deep appreciation of the dedication and contribution made by each employee at all levels. Our resilience to meet challenges was made possible by their hard work, solidarity, co-operation and support.

By order of the Board of Directors
sd/-
(A. K Goel)
Place: Kolkata Managing Director &
Date: 21-06-2021 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
AuditorRawla & Co/Gopal & Associates/S K Agarwal & 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 2021
K Rajivan Nair Director (Shareholder) 2021
Atul Kumar Goel Managing Director & CEO 2021
Anand Madhukar Nominee (Govt) 2021
Ajay Vyas Executive Director 2021
Tuli Roy Director 2021

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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