UCO Bank

Quarterly Compliance Report on Corporate Governance for the quarter ended on 31.03.2015

Particulars Clause of Listing agreement Compliance Status Yes/No Remarks
II. Board of Directors 49 (II)    
(A) Composition of Board 49 (IIA) N.A. Being Public Sector Bank the composition of Board of Directors is prescribed by the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 read with the Directives of Reserve Bank of India.
(B) Independent Directors 49 (IIB) N.A. Being Public Sector Bank the composition of Board of Directors is prescribed by the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 read with the Directives of Reserve Bank of India.
(C) Non-executive Directors' compensation & disclosures 49 (IIC) N.A. The fees/compensation paid/Payable to the Non-Executive Directors on the Board are governed by the guidelines issued by the Ministry of Finance, Govt. of India.
(D) Other provisions as to Board and Committees 49 (IID) Yes.  
(E) Code of Conduct 49 (IIE) Yes.  
(F) Whistle Blower Policy 49 (IIF) Yes.  
III. Audit Committee 49 (III)    
(A) Qualified & Independent Audit Committee 49 (IIIA) Yes.  
(B) Meeting of Audit Committee 49 (IIIB) Yes.  
(C) Powers of Audit Committee 49 (IIIC) Yes. The terms of reference/Role of the Audit Committee are as per the guidelines stipulated by Reserve Bank of India from time to time and our Bank is compliant with these guidelines.
(D) Role of Audit Committee 49 (IIID) Yes. The functions of the ACB are set out in RBI Circular dated 26th September, 1995 and our Bank is following the same.
(E) Review of Information by Audit Committee 49 (IIIE) Yes. Audit Committee reviews all information/ matters as prescribed by the Reserve Bank of India.
IV. Nomination and Remuneration Committee 49 (IV) Yes.  
V. Subsidiary Companies 49 (V) N.A. We do not have any subsidiary company.
VI. Risk Management 49 (VI) Yes.  
VII. Related Party Transactions 49 (VII) Yes  
VIII. Disclosures 49 (VIII)    
(A) Related party transactions 49 (VIIIA) Yes  
(B) Disclosure of Accounting Treatment 49 (VIIIB) Yes  
(C) Remuneration of Directors 49 (VIII C) Yes  
(D) Management 49 (VIII D) Yes  
(E) Shareholders 49 (VIII E) Yes  
(F) Disclosure of resignation of directors 49 (VIII F) Yes.  
(G) Disclosure of formal letter of appointment 49 (VIII G) Yes.  
(H) Disclosures in the Annual report 49 (VIII H) Yes.  
(I) Proceeds from public issues, rights issue, preferential issues, etc 49 (VIII I) Yes  
IX. CEO/CFO Certification 49 (IX) Yes  
X. Report on Corporate Governance 49 (X) Yes  
XI. Compliance 49 (XI) Yes  

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