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UCO Bank shares surge 10% as RBI lifts PCA restrictions

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Reserve Bank Of India

Shares of UCO Bank surged over 10 per cent on Thursday afternoon as the Reserve Bank of India (RBI) decided to bring it out of the Prompt Corrective Action (PCA) framework and lifted the restrictions.

Around 12.40 p.m., its shares on the BSE were trading at Rs 14.17 per share, higher by 10.62 per cent from its previous close.

Earlier it touched an intraday high of Rs 14.85 per share.

On Wednesday, RBI said that it has taken UCO Bank out from the PCA framework and lifted the restrictions. It, however, said that the decision is subject to certain conditions and continuous monitoring.

The central bank said that the performance of UCO Bank was reviewed by the Board for Financial Supervision and it was noted that as per its published results for the year ended March 31, 2021, the bank is not in breach of the PCA parameters.

The bank has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments.

“Taking all the above into consideration, it has been decided that UCO Bank is taken out of the PCA restrictions subject to certain conditions and continuous monitoring,” the RBI statement said.

The Indian Overseas Bank and the Central Bank of India are the other two banks under the framework.

The Reserve Bank has specified certain regulatory trigger points, as a part of PCA framework, in terms of three parameters including capital to risk weighted assets ratio (CRAR), net non-performing assets (NPA), and return on assets (RoA), for initiation of certain structured and discretionary actions in respect of banks hitting such trigger points.

The PCA framework is applicable only to commercial banks.

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TRAI mandates 1601-series numbers for service calls from utilities, logistics firms

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New Delhi : The Telecom Regulatory Authority of India (TRAI) on Monday directed telecom operators to begin onboarding entities from select non-financial sectors onto the new 1601-series numbering framework for transactional and service voice calls extending a system already in use by the banking, financial services and insurance (BFSI) sector.

After this decision, consumers can identify genuine service and transactional calls and curb impersonation and fraud carried out through regular 10-digit mobile numbers.

In addition, TRAI said it has issued directions on the use of the 1601-series numbers for entities in sectors other than BFSI and government organisations which currently use the 1600-series numbering framework.

The authority also noted that the widespread adoption of 1600-series numbers by BFSI entities has provided valuable operational experience for expanding the trusted numbering framework to other sectors.

Under the first phase of implementation, the 1601-series will be allotted to entities in the utilities sector, including electricity distribution companies, water utilities, city gas distribution companies, LPG distributors and other utility service providers.

The logistics and courier sector has also been included in Phase-I, covering courier companies, express logistics firms, parcel delivery service providers as well as freight and logistics operators involved in consignments delivery.

TRAI said the Department of Telecommunications (DoT) has allocated the 1601-series for such calls and telecom service providers (TSPs) have been directed to complete migration and onboarding of eligible entities covered under Phase-I within 90 days from the date of the order.

The regulator further noted that 1601-series numbers would be allocated directly to eligible entities rather than intermediaries or aggregators following verification by telecom operators.

“The distinct numbering identity will enable the consumers to easily identify legitimate service and transactional calls, thereby strengthening trust in such voice-based communications,” the regulator said.

Additionally, TRAI clarified that the 1601-series numbers cannot be used for promotional voice calls by any entity.

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Centre’s expenditure on 1,847 big infra projects touches Rs 21.97 lakh crore

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New Delhi: The expenditure on India’s 1,847 major infrastructure projects, currently being implemented by the Centre, has reached Rs 21.97 lakh crore (as of June 2026), which represents over 54 per cent of the total investment of Rs 40.54 lakh crore earmarked for these mega projects, reflecting steady progress in the pace of work, according to a factsheet issued by the government on Monday.

Many projects have reached advanced stages of completion, with around 709 projects exceeding 80 per cent physical progress, while another 337 projects have passed 80 per cent of financial completion, the factsheet states.

The transport and logistics sector leads with the 1,341 projects worth Rs 22.32 lakh crore, reflecting the focus on connectivity.

These projects are playing a crucial role in pushing up the country’s economic growth rate and creating more jobs.

Efficient monitoring of infrastructure projects is being carried out through PAIMANA (Project Assessment, Infrastructure Monitoring and Analytics for Nation-Building) digital platform. Developed by the Ministry of Statistics and Programme Implementation (MoSPI), PAIMANA is used for monitoring ongoing Central Sector infrastructure projects costing Rs 150 crore or more.

In addition to strengthening project monitoring, PAIMANA has expanded its role to support infrastructure performance monitoring through a dedicated Performance Monitoring Dashboard which was launched on April 16, 2026.

The Performance Monitoring Dashboard brings together performance indicators across key infrastructure sectors in a unified digital platform. The indicators are compiled from official data provided by the concerned Ministries and Departments and are updated periodically based on the latest available information.

A detailed indicator framework spans six infrastructure sub-sectors. These are Power, Civil Aviation, Telecommunications, Railways, Roads, and Ports, Shipping and Waterways.

The Performance Monitoring Dashboard has now been expanded to 165 indicators. This expansion includes the addition of 54 new indicators, significantly enhancing the comprehensiveness of infrastructure performance monitoring.

A single digital interface allows monitoring of performance sector by sector. It offers interactive visualisation and time-series analysis for policymakers, researchers and stakeholders.

A centralised dashboard delivers one cross-sector view of infrastructure sectors. This capability deepens inter-sectoral analysis.

The current framework gauges sectoral performance through growth rates. It reviews year-on-year, month-on-month and cumulative growth, targets and capacity utilisation in chosen sectors, the official statement added.

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Maharashtra to raise milk prices by Rs 2 per litre from Aug 11

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Mumbai, Aug 9: Milk prices in Maharashtra will increase by Rs 2 per litre for both cow and buffalo milk from August 11 after the Milk Producers and Processors Welfare Association decided to revise retail rates, a move that is expected to impact consumers across the state.

The price hike comes amid ongoing debates over milk pricing and efforts to balance the interests of dairy farmers with those of consumers facing rising household expenses.

Producers and processors have argued that higher procurement and operational costs have necessitated the increase.

The development follows the Centre’s recent clarification that it has no proposal to introduce a Minimum Support Price (MSP) for milk, maintaining that prices will continue to be determined by cooperatives and private dairies based on prevailing market conditions.

In a written reply to a starred question in the Lok Sabha last month, Fisheries, Animal Husbandry and Dairying Minister Rajiv Ranjan Singh, also known as Lalan Singh, said milk pricing remains a market-driven process and that the government is not considering an MSP mechanism for the sector.

The minister said the government is implementing a range of measures aimed at safeguarding dairy farmers’ interests, stabilising milk prices, protecting consumers and strengthening quality monitoring across the dairy value chain.

According to the government, efforts are underway to bring more producers into the organised dairy sector.

As of March 2026, a total of 36,283 new village-level Dairy Cooperative Societies had been established, while 31,150 existing societies had been strengthened.

The government also created milk chilling capacity of 168 lakh litres per day and distributed 76,748 milk quality testing devices across the country.

In addition, projects with a combined milk processing and value-addition capacity of 418 lakh litres per day have been approved to enhance infrastructure and improve efficiency in the dairy sector.

The government highlighted the strong growth in India’s milk production over the past decade.

Milk output rose to 248 million metric tonnes in 2024-25 from 146 million metric tonnes in 2014-15, registering an increase of about 69 per cent.

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