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Prompt corrective action - Allahabad Bank
January 7 , 2018
2384 days
994
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- The Reserve Bank of India has initiated 'prompt corrective action' (PCA) against Allahabad Bank over its high bad loans.
- High net non-performing assets (NPA), insufficient CET1 Capital and a negative return on assets (ROA) for two years in a row have prompted the action.
- The objective of the PCA framework is to facilitate the banks to take corrective measures including those prescribed by the RBI, in a timely manner, in order to restore the banks’ financial health.
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