In past few months united bank of India was very bad at performance due to increasing Non-performing assets. In order to recover the bad loans united bank of India has planned to initiate a drive. The bank is aiming to reduce the Non performing assets by Rs 2,000 crore by the end of this fiscal year.
Earlier the in beginning period of the financial the net NPAs were at about Rs 8,546 crore and at present it has reduced to Rs 5,630 crores. The data showed that 30 branches of the bank account for around 55.78% of NPAs. Lately a meeting between the regional heads was held were the measures to combat with the problem were discussed. It has been reported that the reduction in deposits and raise of the base rates will help the bank to minimize the total amount of the losses. Further the bank release stated that several cost cutting measures were also proposed in the meeting that may help out the bank.