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RBI initiates ‘prompt corrective action’ for Dena Bank

RBI initiates 'prompt corrective action' for Dena Bank_40.1

The Reserve Bank of India has initiated prompt corrective action (PCA) for Dena Bank in view of high net non-performing assets and negative return on assets. Last month (May 2017), the central bank had initiated PCA for IDBI Bank and UCO Bank in view of high NNPAs and negative ROA.

Prompt Corrective Action is the action which will not have any material impact on the performance of the bank infact it will contribute to improve the internal controls of the bank and improvement in its activities.
Static Takeaways for SBI PO Mains Exam-
  • Dena Bank Chairman and MD is Ashwani Kumar and its headquarter is in Mumbai
  • Urjit Patel is the 24th governor of RBI and its headquarters is in Mumbai.
Source- The Economic Times

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