RBI Places Bank of India Under PCA

The Reserve Bank of India has placed Bank of India under the Prompt Corrective Action Framework, consequent to the onsite inspection under the Risk-Based Supervision Model carried out for the year ended March 2017.

This is the first time that the central bank has invoked PCA for a large bank of the size of BoI. 

Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-
  • Bank of India was founded on 7th September, 1906.
  • Managing Director & CEO- Dinabandhu Mohapatra.
  • The Bank was under private ownership and control till July 1969.

Source- The Hindu Business Line