United Bank of India Shares Jump As RBI Eases Lending Norms

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Shares in United Bank of India jumped 5 per cent after the Reserve Bank of India eased lending norms for the Bank. The stock was last trading at Rs 28.15, up almost 5 per cent over its previous close. The bank is now allowed to do business like any other bank, the RBI has said.

United Bank of India Shares Jump As RBI Eases Lending Norms
United Bank of India: Quotes, News
BSE 21.30BSE Quote0.25 (1.17%)
NSE 21.35NSE Quote0.2 (0.94%)
It maybe recalled that the bank was saddled with bad debts that were amongst the highest in the industry. However, it has managed to show some discipline in the last few quarters in curbing the deficit.

It maybe recalled that Archana Bharghava had left the bank at a time when its assets were precariously high.

However, it has managed to bounce back in the last few quarters, due to a number of steps it has initiated.

Dealers expect the bank to continue to do well, if economic growth in the country picks-up.

GoodReturns.in

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