UCO Bank introduces product for Indian Armed Forces

UCO Bank has introduced an exclusive product for the Indian Armed Forces including paramilitary forces on Independence Day. As per this new product, the bank will offer a zero-balance savings account with overdraft facility for in-service and retired armed personnel.

The bank has reported a rise of 41.01% in its net profit at Rs 511.11 crore for quarter ended June 30, 2012, as compared to Rs 362.46 crore for the same quarter in the previous year. Total income of the bank has increased by 5.93% to Rs 4668.81 crore for the quarter under review as compared to Rs 4407.39 crore for the quarter ended June 30, 2012.