UCO Bank has released its Annual Secretarial Compliance Report for the financial year ended March 31, 2026. The report, prepared by practicing company secretaries, highlights the bank’s adherence to corporate governance standards and disclosures. While the bank maintained compliance across most areas, it noted specific challenges regarding board and committee compositions due to pending director appointments by the central government.
Report Overview
UCO Bank has fulfilled its mandatory filing requirements by submitting the Annual Secretarial Compliance Report for the fiscal year 2025-26. This comprehensive review, conducted by an independent firm of practicing company secretaries, evaluates the bank’s adherence to operational transparency, policy adoption, and required financial disclosures.
Corporate Governance and Compliance
The review confirms that the bank has effectively maintained all necessary policies and ensured timely dissemination of information on its official portal. Key areas of successful compliance include the preservation of records, the conduct of performance evaluations for directors and committees, and the transparent disclosure of material events. The report also confirmed that there were no instances of resignation by statutory auditors during the review period.
Addressing Composition Challenges
The report highlights ongoing efforts to align board and committee structures with prescribed mandates. Specifically, the bank identified gaps in the requirement for an Independent Woman Director and the two-thirds independent member threshold for the Audit Committee. UCO Bank has clarified that these vacancies remain subject to the nomination process managed by the Government of India. The management is actively coordinating with the Department of Financial Services to expedite these appointments and ensure full structural compliance.
Source: BSE
