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Aug 21, 2007

Central Bank of India lists at 28% premium

Central Bank of India listed at Rs 130 - a 27.5% premium to its issue price of Rs 102 per share. The stock touched a high of Rs 132, and a low of Rs 125 in early trades.

SBI tying up with post offices

The country's largest commercial bank, State Bank of India (SBI) has chalked out an innovative strategy to widen its network and reach out to the remotest villages of India. It has decided to tie up with post offices for this purpose

UCO Bank to sell off Rs 500-cr bad loans

UCO Bank, which is sitting on an Rs 1,285-crore pile of non-performing assets, will put up about Rs 500 crore of the stressed assets next month for bidding by various asset reconstruction companies (ARCs). Stressing that the bank would sell the loans only if it got a fair price, the bank’s Chairman and Managing Director, Mr S.K. Goel, told that there would be no let-up in efforts to effect recoveries . He said that two General Managers and about 300 of the bank’s staff had been put on the task of making recoveries.