Public sector banks approach RBI to stay out of prompt corrective action

Public sector banks (PSBs), which are on the brink of being placed under Reserve Bank of India (RBI)’s prompt corrective action (PCA) framework, are approaching the regulator seeking a delay in restrictions on their lending and expansion till December this year.  Delhi-based Punjab National Bank, which posted the highest net loss by any bank in the fourth quarter of 2017-18, has made a presentation to RBI detailing its revival plan. Others such as Union Bank will follow suit.  This follows directions from the finance ministry, which is concerned about the credit flo.....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Most Read

Top Stories

Markets

Companies

Opinion

Latest News

Todays Paper

News you can use

Outbrain