Right to debar some promoters but SMEs deserve relaxed rules: UCO Bank MD

'Frauds have been happening in banks, but now the magnitude has gone up substantially,' says R K Takkar

UCO Bank has been under prompt corrective action by the Reserve Bank of India (RBI) in view of high non-performing accounts. The bank has an exposure of Rs 90 billion in the two list of major defaulters referred by the RBI to the National Company Law Tribunal (NCLT). Its net loss widened to Rs 10.16 billion in the December quarter as gross bad loans ratio hit over 20 per cent. R K Takkar, managing director & chief executive officer, UCO Bank, tells Namrata Acharya that barring existing promoters from bidding in big cases was justified, though for SMEs, norms should