Prompt Corrective Action Current Affairs, GK & News
Prompt Corrective Action
Prompt Corrective Action is a system of RBI under which it can initiate a corrective action in case of a bank which is found to be having low capital adequacy or high Non-performing Assets. These are called Trigger Points. RBI takes such action when Capital Adequacy Ratio goes down to less than 9% and Non-Performing ..
IOB out of RBI PCA Framework
Reserve Bank of India (RBI) has moved out the public sector lender Indian Overseas Bank (IOB) from Prompt Corrective Action (PCA) framework after its financial and credit profile improved. Key Points This decision provides lender more freedom to lend, especially to corporations and grow the network. IOB was placed under PCA in October 2015 because of high Net-Performing ..
Month: Current Affairs - September, 2021
Category: Economy & Banking Current Affairs
Topics: Indian Overseas Bank (IOB) • Ministry of Finance • Non-performing Asset • PCA Regime • Prompt Corrective Action • Reserve Bank of India (RBI) • UCO Bank
LIC-owned IDBI Bank removed from PCA framework
The Reserve Bank of India (RBI) has removed IDBI Bank from the Prompt Corrective Action (PCA) framework which is the enhanced regulatory supervision of RBI on March 10, 2021. The bank was removed from the framework after four years as a result of its improved financial performance. Background Central bank had enlisted the IDBI Bank ..
Month: Current Affairs - March, 2021
Category: Economy & Banking Current Affairs
Topics: Financial regulation • IDBI Bank • LIC • Non Performing Assets (NPA) • Non-Banking Financial Companies • Prompt Corrective Action • Reserve Bank of India (RBI)
RBI rejects Lakshmi Vilas Bank-Indiabulls Housing Finance merger plan
The Reserve Bank of India (RBI) rejected the merger proposal between Lakshmi Vilas Bank and mortgage lender Indiabulls Housing Finance Limited. If the RBI would have approved the move, this would have been the first-ever incident where a non-bank lender would have merged with a bank in the country. Poor Performance of banks: Both Lakshmi ..
Topics: Indian Economy • Mergers and acquisitions • Prompt Corrective Action • RBI
NITI Aayog hosts Conference on Future of Indian Banking and role of technology Tomorrow
The think tank Niti Ayog had hosted the conference on Future of Indian Banking and role of technology Tomorrow in association with the Foundation for Economic Growth and Welfare (EGROW Foundation). The conference was inaugurated by Dr Rajiv Kumar, Vice Chairman, NITI Aayog. The speakers in the event included Rajiv Kumar, Secretary, Department of Financial Services, ..
Month: Current Affairs - February, 2019
Topics: Basel Norms • EGROW Foundation • Foundation for Economic growth and Welfare • Insolvency and Bankruptcy Code • NITI Aayog • Prompt Corrective Action • Public Sector Banks • World Bank
Prompt Corrective Action framework restrictions lifted for Three Banks
The Reserve Bank of India (RBI) has lifted the Prompt Corrective Action (PCA) framework operational curbs on Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC). These public sector banks are out of the prompt corrective action (PCA) framework. This will aid in making marked improvements in the capital positions ..
Month: Current Affairs - February, 2019
Topics: BANK OF INDIA • Bank of Maharashtra • Capital to risk-weighted assets ratio • Non Performing Assets • NPA • ORIENTAL BANK OF COMMERCE • PCA • Prompt Corrective Action • RBI • Reserve Bank of India