UCO Bank Board Sees Change as Director Completes Tenure
UCO Bank has announced a change in the composition of its Board of Directors, confirming the departure of Shri Subhash Shankar Malik. The notable exit follows the completion of his tenure as a Part-time Non-Official Director.Shri Subhash Shankar Malik had been appointed to the Board for a period of three years, originally under the Government of India notification F.No.6/8/2022-BO.I dated May 8, 2023, as per section 9(3)(h) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The bank confirmed that the director's cessation was due to the natural completion of his service term.
The details regarding the change in the Board of Directors are as follows:
| Reason for Change | Date of Cessation |
|---|---|
| Completion of term | Close of business hours of May 7, 2026 |
The transition ensures the Bank continues its operations with an updated board structure.
UCOBANK Stock Price Movement
As of 10:53 AM, shares of UCO Bank are slipping by 1.25% in live trading, currently trading at ₹26.95. The stock is experiencing significant selling pressure, with trading volume reaching 2.26 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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