BANKING/FINANCE: UCO Bank, PSB get nod for capital rejig.

from BUSINESS LINE, October 21, 2008 New Delhi, Oct. 20 - The Government has sought Parliament nod for equity capital restructuring of Punjab & Sind bank (PSB) and UCO Bank. While PSB is wholly owned by the Government, the Centre has a 74.98-per cent stake in UCO bank.

Official sources said that a token supplementary has been sought in the first batch of supplementary demand for grants for 2008-09, which was tabled on Monday, as restructuring of capital was involved in both cases. There is no cash outgo for the Government in the equity restructuring exercise.

In the case of PSB, Rs 560 …