UCO Bank, Corporation Bank rally up to 19% post approval of insolvency law amendments
Updated : December 13, 2019 01:48 PM IST
Shares of UCO Bank and Corporation Bank rallied up to 19 percent on Friday amid reports that payments from Essar Steel resolution are likely to arrive this month. Also that the Cabinet cleared amendments to the insolvency law.
The Union Cabinet on Wednesday approved changes to the insolvency law, including a provision to ring-fence successful resolution applicants from criminal proceedings with regard to offences committed by previous promoters of a company.