RBI initiates Prompt Corrective Action against Bank of Maharashtra as NPA mounts

Posted on:19 Jun 2017 15:15:56
RBI initiates Prompt Corrective Action against Bank of Maharashtra as NPA mounts
19 June 2017 Current Affairs:

  • The Reserve Bank of India (RBI) initiated prompt corrective action (PCA) on Bank of Maharashtra placing a restriction on the banking activities.

  • This is the sixth bank to be placed under PCA by the RBI and of this five banks were placed under PCA in the last three months.

  • RBI initiated PCA on Central Bank of India, IDBI Bank, UCO Bank, Dena Bank and Indian Overseas Bank.


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