UCO Bank

Correspondent Banking Services

The extensive network of branches in India and presence in two important international centres enables UCO to offer correspondent banking services to the banks.

All authoriosed FOREX Branch list in India as well as our Overseas Branches are capable of providing the services that an international correspondent Bank can offer.

UCO can provide the following main services:-

  1. Collection of bills both Documentary and Clean.
  2. Advising/confirming of L/Cs opened by banks
  3. Discounting of Bills drawn under L/Cs
  4. Maintenance of foreign currency accounts
  5. Maintenance of Rupee accounts in India
  6. Making foreign currency payments/remittance on behalf of customers of banks.

UCO's excellent service with competitive charges provide a good Correspondent Banking solution.

UCO's overseas branches are active in discounting of usance international trade bills. With foreign currency resources of overseas branches, UCO offers the most competitive rates for discounting of these bills. The bills under the L/Cs of the most of the Indian Banks as well as International Banks are also discounted at competitive rates. These transactions are undertaken by them within the Bank/Country Exposure ceilings prescribed by UCO.


The foreign currency loans to the Indian corporate are granted by UCO's overseas branches. The borrowings raised by the Indian corporate from specified banking sources outside India are termed "External Commercial Borrowings" (ECBs). These ECBs can be raised within the Policy guidelines of Govt. of India/Reserve Bank of India, as applicable from time to time. ECB includes the following:-

  1. Commercial Loans/Syndicated Loans
  2. Floating/Fixed rate notes and bonds
  3. Lines of Credit from foreign banks and financial institutions
  4. Import loans, loans from the export credit agencies of other countries.

UCO is very active in granting and arranging various forms of ECB facilities for the Indian Corporate. UCO can offer following services to the Indian corporates in respect of cross border financing :-

  1. Arranging/granting External Commercial Borrowings by way of Foreign Currency Loans, FRNs, Bonds for the Indian Corporates.
  2. Arranging/underwriting International Syndicated Loans for the Indian Corporates.
  3. Participating in the International Loan Syndications.
  4. Granting loans backed by Export Credit Agencies.
  5. Providing import finance for Indian Corporates.
  6. Issue of Guarantees such as Bids, Bonds, Performance, Advance Payment etc. for the overseas projects bagged by the Indian Corporates.


Latest at UCO :
UCO Bank has launched UCO Skill Loan Scheme for providing loan facility to individuals who intend to take up skill development courses. | No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. | KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. | Prevent Unauthorized Transactions in your demat account -- Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL on the same day (issued in the interest of investors). | Service charges on Bills, Remittances, Deposit, Lockers including GST @18% w.e.f 01.08.2017 | We do not advertise our Bank's name/logo on any website posing as customer service points,Bank's customer service point, APNA customer service point, Bankmitra etc. Public is hereby cautioned against any such fraudulent advertisement & is advised to stay away from such fraudulent entities. | Release of Provisional List of Selected Candidates in CRP(PO)-VI 2nd List, by IBPS Mumbai for FY 2017-18 | Release of Provisional List of Selected candidates in CRP(PO)-VII, by IBPS Mumbai for the FY 2018-19 | Release of Provisional Select List of candidates selected in CRP-VII by IBPS, Mumbai for FY 2018-19 | Release of Provisional Select List of candidates selected in CRP-VI 2nd List by IBPS, Mumbai for 2017-18 |
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