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Higher FDI cap won't affect PSBs' financial inclusion goals: UCO Bank CEO
New Delhi
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The government's guarantee mechanism for startups is likely to improve lending to the sector in the coming years, says UCO Bank Managing Director and Chief Executive Officer (MD&CEO) Ashwani Kumar. In a telephonic interview with Harsh Kumar, he also discusses the expansion plans of the bank. Edited excerpts:
How is your bank addressing inoperative accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY)?
We are conducting a saturation drive for inoperative PMJDY accounts, meeting customers one-on-one to encourage them to operate their accounts. The main issue we face is that some customers have multiple accounts across different banks, and are receiving
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New Delhi, A chargesheet has been filed against arrested former UCO bank CMD Subodh Kumar Goel and his family members, and his properties worth ₹106 crore have been attached under the anti-money laundering, the Enforcement Directorate said on Friday. ED files chargesheet against ex UCO Bank CMD Goel; attaches ₹ 106-cr assets Goel was arrested by the federal probe agency in May from his home in Delhi in an alleged bank loan fraud case of more than ₹6,200 crore linked to a Kolkata-based TMT bars supplying company named Concast Steel & Power Ltd. . He is currently lodged in a Kolkata jail under judicial custody Movable and immovable assets of Goel worth ₹106.36 crore were attached as part of a provisional order issued under the Prevention of Money Laundering Act on July 9, the agency said in a statement. It added that a fresh chargesheet was also filed before a special PMLA court in Kolkata on July 11, and Goel, his family members, close aides and related companies have been named as accused. The former UCO Bank boss was arrested for playing a "substantial" role in sanctioning loans of more than ₹1,460 crore to CSPL, which later on turned into an NPA . "In lieu of sanctioning loans to CSPL, Goel received substantial illegal gratifications in the form of cash, immovable properties, luxury goods and services routed through a web of shell companies," the ED said. Evidence, it alleged, also shows the use of accommodation entries and structured layering through front companies for systematic settlement of kickbacks, it said. A Chartered Accountant named Anant Kumar Agarwal, an alleged close associate of Goel, was also arrested by the agency in June for "facilitating accommodation entries, managing shell entities, and routing illegally acquired cash." Agarwal, too, is lodged in jail at present. With the latest attachment, the total freezing of assets in the case stands at ₹612.71 crore, according to the ED. This article was generated from an automated news agency feed without modifications to text.
