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.
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.