associate sponsors


RBI puts Central Bank of India under 'corrective action' as bad loans surge | Reuters

The Reserve Bank of India has initiated "prompt corrective action" (PCA) for state-run Central Bank of India (CBI.NS) over high bad loans and negative return on assets, the lender said in a stock exchange filing on Wednesday.It did not give details of the corrective action but said, "We believe corrective measures arising out of the PCA will help in improving overall performance of the bank."

The bank had a net non-performing loans ratio of 10.2 percent, as of end-March.

In April, RBI had tweaked rules for regulatory action on banks, including an over 6 percent net non-performing loans as one of the triggers.

IDBI Bank (IDBI.NS), Dena Bank Ltd (DENA.NS) and UCO Bank (UCBK.NS) are the other lenders that have been placed under corrective action by the regulator due to their high bad loans. (Reporting By Arnab Paul in Bengaluru; Editing by Sherry Jacob-Phillips)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Jun 14, 2017 21:53 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See

{if $hideJSforEU != 'yes'} {/if}