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UCO Bank to issue 9.35B rupees of shares to Indian government

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UCO Bank to issue 9.35B rupees of shares to Indian government

UCOBank said March 28 that it plans to sell 9.35 billion Indian rupeesof equity shares to the Indian government on a preferential basis to raisecapital.

The plan is still subject to the approval of shareholdersand other authorities.

As of March 28, US$1was equivalent to 66.58 Indian rupees.