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UWB likely to raise objections

MUMBAI: United Western Bank Ltd (UWB) is expected to submit to the Reserve Bank of India on Wednesday a series of objections to the draft scheme of amalgamation with IDBI, proposed by the apex bank. The UWB board, decided on Tuesday to raise issues of lack of transparency and rationale behind the RBI's proposal and inadequate scope given to the UWB to present its own proposals, sources close to the development told The Hindu.

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