The screenshot of an internal email of UCO Bank has gone viral on social media platforms. This viral screenshot has created a stir in UCO Bank. In this email, a senior bank official has been accused of inhuman and poorly engaged with employees.

In the title of this email sent to the top management of the bank, the employee wrote, ‘Complaints about the inhuman and poor behavior of Chennai zonal head, request for quick action.’ In the email, an employee of the bank made the zonal head of Chennai Zone R.K. S. Ajit has been accused that they spoil the atmosphere of the office with fear and threats and treat the authorities in such a way as if they are not their professionals but their servants.

In the complaint, the zonal head was declared a dictator, derogatory and insensitive. Along with this, many examples have also been shared in the email, when he also refused to leave employees in family emergency.

What are the examples of the bank employee in the complaint

Talking about a case, the bank employee said in the email, “When the mother of a branch manager of the bank was admitted in the ICU, he earlier insisted on asking how many days the officers would return to work, only then will he be discharged. In the second case, when the mother of a branch manager died, she allegedly said, ‘Everyone’s mother dies. What is like doing in this, become practical and return to work immediately, otherwise I will put LWP (Leave Without Pay). After this, an official letter was also issued against that officer.

Another case has also been told in the email. Actually, a one -year -old daughter of a branch manager was hospitalized, so she allegedly said that you are a doctor? Why be in the hospital? Go to the office immediately, otherwise I will put LWP.

In addition, when the wife of an officer was admitted to the hospital in critical condition, the zonal head also dismissed his demand for dischargeable comments.

People angry on social media

After the screenshot of this email went viral, the anger of the users on social media erupted. Many users called it cruelty in the name of discipline.

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Government stake sale: The Government of India is preparing to sell a large part of its stake in LIC (Life Insurance Corporation of India) and five other public sector banks. This step is being taken according to SEBI rules, under which promoters should not have more than 75 % stake in listed companies.

At present, the government’s share in these institutions is more than 90 percent, which is more than the limit of SEBI. Currently, the government has a 96.5 percent stake in LIC. SEBI has fixed deadline for this till 2027.

LIC will have to fulfill this rule

In the year 2022, the government sold only 3.5 percent stake in LIC through IPO. The government is still holding 96.5 percent stake in LIC. The market cap of Life Insurance Corporation of India is 5.66 lakh crores.

According to SEBI rules, LIC will have to complete the rule of 10 % minimum public shareholding. For this, time was given till May 2024, but now it has been increased to May 2027. At the same time, if you talk about its share, then on Monday, LIC shares are trading at Rs 895.60 with a decline of 1.86 percent.

Along with the LIC, the government is planning to reduce its stake in five public sector banks, which has more than 75 % share. These banks include:-

• Indian Overseas Bank – 94.61 percent
• UCO Bank – 90.95 percent
• Punjab & Sindh Bank – 93.85 percent
• Central Bank of India – 89.27 percent
• Bank of Maharashtra – 79.60 percent

Banks earned a lot of profit in the first quarter

According to SEBI rules, the government will have to bring its share in these institutions at 75 percent or less by August next year. It is expected that only Bank of Maharashtra will be able to complete this time limit. Other banks may need to extend the deadline.

In the June 2025 quarter, all these public sector banks made a record profit of 44,218 crore, which is 11 percent more than the same quarter last year. In view of this strong performance, the government is now preparing to appoint merchant bankers to sell stake.

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RBI Rate Cut: The Reserve Bank of India on Wednesday cut the repo rate by 25 basis points. With this, the repo rate has now come down to 6 percent. Due to this, many banks have also reduced their lending rates, that is, the interest rate on which the bank gives loans or lending. In such a situation, EMI will also be reduced on car, home or personal loan. Let us see which big public sector banks have taken the decision to reduce the interest rate.

Bank of Baroda

After the repo rate has been reduced, the Overnight Marginal Cost of Funds-based Lending Rate (MCLR) of Bank of Baroda has become 8.15 % overnight. While one year MCLR has come on 9 percent. The bank announced the interest rate cuts for retail and micro, small and medium enterprises (MSME) on Thursday. MCLR means the minimum interest rate on which the bank gives you a loan. The objective of this step is to provide loans to individuals and businesses at a cheap rate so that financial development can also be supported as well as financial inclusion.

Indian bank

Chennai-based Indian Bank has announced a cut of 35 basis points in its repo-linked interest (RPLR). With this, it will be reduced to 8.70 percent. These are coming into effect from April 11.

Punjab national bank

Punjab National Bank (PNB) has also given its repo-linked interest (RPLR) from 9.10 percent to 8.85 percent.

Uco bank

UCO Bank has also reduced its repo-linked interest (RPLR) to 8.8 percent, which will be effective from April 10, 2025.

Bank of india

Bank of India has a new RPLR 8.85 percent, which was earlier 9.10 percent. The bank has informed about its effective from Wednesday.

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