UCO Bank stock falls to 12-yr low as ex-CMD booked for fraud
Shares of state-run UCO Bank slumped to a nearly 12-year low on Monday after the CBI booked former Chairman and Managing Director Arun Kaul in a â¹621-crore loan fraud case. The stock fell as much as 18% during intraday trade. Bank officials allegedly colluded with private infrastructure firm Era Engineering Infra, and investment banking firm Altius Finserve, to siphon loans.