The Chairman and Managing Director of the beleaguered United Bank of India, Archana Bhargava has put in her papers.
This was confirmed by the bank which said that her application for voluntary retirement has been accepted by the Union Finance Ministry.
The Bank said in a filing on the stock exchanges that in the absence of a CMD, the financially stressed bank will remain in joint charge of two executive directors till a regular incumbent was found.
The Kolkata-based bank had reported huge losses of Rs. 1238.1 crore in its third quarter results and had massive bad loans in its books much of which had hitherto gone unreported.
