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