Reserve Bank of India has announced the removal of Prompt Corrective Action (PCA) restrictions on Indian Overseas Bank (IOB). This decision gives the bank more freedom for lending, especially to corporations and grow the network, subject to prescribed norms. IOB was placed under PCA in 2015.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The bank has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments. IOB is being tipped as a privatisation candidate. In 2021, RBI has also removed PCA restrictions on IDBI Bank and UCO Bank.
Important takeaways for all competitive exams:
India defeated Pakistan in the 27th Match of Group A at the ICC Men’s T20…
Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…
India vs Pakistan in T20 internationals is always high-voltage. Over the years, some iconic partnerships…
The first-ever T20 International match between India and Pakistan remains one of the most thrilling…
T20 cricket is known for explosive batting, and scoring a century in this format is…
The India vs Pakistan clash in the ICC T20 World Cup is one of the…