RBI Drops 3 Public Sector Banks From PCA Framework

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Three state-owned banks have been removed from the Reserve Bank of India's (RBI) radar of weak-bank watch list. Removal from the PCA framework will mean the lifting of lending restrictions imposed on them.

    In a statement the Central Bank said, "It has been decided that Bank of India (BoI) and Bank of Maharashtra (BoM) which meet the regulatory norms including Capital Conservation Buffer (CCB) and have Net NPAs (non-performing assets) of less than 6 per cent as per third quarter results, are taken out of the PCA (prompt corrective action) framework subject to certain conditions and continuous monitoring."

    RBI Drops 3 Public Sector Banks From PCA Framework
     

    In the case of Oriental Bank of Commerce, the net NPA has come down to less than 6 percent as the government has infused sufficient capital, it said. Hence, it has been decided to remove the restrictions placed on Oriental Bank of Commerce (OBC) under the PCA framework, subject to certain conditions and close monitoring, RBI added.

    Read more about: rbi pca
    Story first published: Thursday, January 31, 2019, 22:12 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more