UCO Bank takes various initiatives to supplement Govt’s effort to combat COVID

FPJ BureauUpdated: Wednesday, June 09, 2021, 09:35 AM IST
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Atul Kumar Goel, MD and CEO of UCO Bank |

UCO Bank under the leadership of Atul Kumar Goel, MD and CEO, UCO Bank has taken various initiatives to supplement the Government’s effort to combat COVID-19.

New Product Launches: To resolve the urgent fund requirement of the healthcare sector, the Bank has come up with three new credit schemes

Loan Products

To resolve the urgent fund requirement of the healthcare sector, the Bank has come up

with three new credit schemes

 UCO Sanjeevani – Loans up to Rs.2 crores for setting up oxygen plant, producing liquid oxygen, oxygen cylinders etc. is being provided at concessional rate @7.50%.

 UCO Aarogyam – Financing up to Rs.100 crores for creating

healthcare infrastructure.

 UCO Kavach – Maximum Rs.5 lakhs loan to individuals who

are/were infected with Covid19.

HR Initiatives:

 Bank also announced a compensation of Rs.20.00 lakhs as a financial assistance to

family members of staffs for unfortunate death due to Covid-19.

 Bank has provided term loan facility for purchasing oxygen

concentrator and interest free salary advance to all employees.

 Bank is also reimbursing the cost of Covid test of its employees and prioritising

vaccination of all employees and their family members in consultation with govt.

authorities.

 Wherever required, Work from Home facility is provided to physically handicapped

and pregnant lady employees during the pandemic.

CSR Activities:

 Bank distributed food grains among poor and needy people affected by lockdown in

the vicinity of our Head Office premises.

 Distributed staple food items Slum dwellers, pavement dwellers residing in Jatindra

Mohan Avenue, Halshibagan, Dalimtala etc. with the help of Burtolla Police Station

(Kolkata Police).

 The Bank also stood beside the people of Mansadwip, South 24 Pgs., affected by

cyclone Yaas and provided financial help to Ramakrishna Mission Sevashram,

Mansadwip who are providing cooked food to those people.

Restructuring of Stressed Accounts:

Borrowers are being contacted to ascertain the impact of second wave of COVID-19 for providing the relief in terms of RBI guidelines dated 05.05.2021. The bank also has a Resolution Framework 2.0 for individual and small businesses.

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