Multiple choice

For which of the following banks had the cabinet given the approval to write off accumulated losses amounting Rs. 278.44 crore?

  1. UCO

  2. United Bank of India

  3. Indian Bank

  4. Oriental Bank of Commerce

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In the mid-2000s, the Union Cabinet approved a restructuring plan for United Bank of India which included writing off accumulated losses to improve its financial health. This was part of a broader effort to strengthen public sector banks before they entered the capital markets.