RBI Initiates PCA Against Allahabad Bank

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) and a negative return on assets (ROA) for two years in a row have prompted the action. The action would help improve its risk management, asset quality and profits.
Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • There are total 11 banks on which RBI has initiated PCA till date.
  • Allahabad Bank MD & CEO- Usha Ananthasubramanian, Headquarters- Kolkata. 

Source- The Hindu Business Line