"The times of India"
Announcing the financial results for 2007-08 on Friday, UBI chairman and MD P K Gupta said that the bank had taken a hit of Rs 110 crore for provisioning and Rs 73 crore on account of depreciation on investments, among others.
The fear among banks became more pronounced after market leader State Bank of India's chairman O P Bhatt said that losses to clients on account of currency derivatives could be in the range of Rs 600 to Rs 700 crore.
The disclosure by Bhatt, earlier this week, came within days of ICICI Bank and others being dragged to courts by some of their clients for losses suffered on the derivatives front.
Announcing the financial results for 2007-08 on Friday, UBI chairman and MD P K Gupta said that the bank had taken a hit of Rs 110 crore for provisioning and Rs 73 crore on account of depreciation on investments, among others.
The fear among banks became more pronounced after market leader State Bank of India's chairman O P Bhatt said that losses to clients on account of currency derivatives could be in the range of Rs 600 to Rs 700 crore.
The disclosure by Bhatt, earlier this week, came within days of ICICI Bank and others being dragged to courts by some of their clients for losses suffered on the derivatives front.
