UCO Bank announces new initiatives

Hyderabad: UCO Bank has taken various initiatives to supplement government's effort to combat the second wave of Covid-19. The bank has restructured its stressed accounts according to RBI guidelines and extended relief under Resolution Framework 2.0 to 2314 accounts amounting Rs 127 crore.

UCO bank has come up with three new credit schemes to resolve the urgent fund requirement of the healthcare sector as UCO Sanjeevani, Aarogyam, Kavach and deposit product UCOVAXI-999. The bank is also offering health insurance products such Corona Kavach & Rakshak, Group care 360, Star Group Health Insurance, UCO Health Suraksha, Group Credit life insurance policies.

Bank also announced a compensation of Rs 20 lakhs as a financial assistance to family members of employees who succumbed to Covid-19. Under CSR activities, the bank donated food grains and staple food items to needy people affected by lockdowns. UCO also provided financial help to Ramakrishna Mission Sevashram, which provided cooked food to affected people of cyclone Yaas.