The RBI has
initiated a 'prompt corrective action (PCA)' against state-owned Oriental Bank of Commerce (OBC) for high bad loans. Civil
services chronicle The move
will place various restrictions on the public sector lender, Civil services chronicle including on fresh loans and dividend distribution. The action will not
have "any material impact" civil
services chronicle magazine-latest on the performance
of the bank and will contribute in overall improvement in its risk management, asset quality, profitability and efficiency. Net civil
services chronicle magazine-latest NPA of the
bank rose to 9.56 per cent of net advances
as of Jun 2017, against 8.11 per cent
a year ago. civil services chronicle magazine-latest The RBI has initiated similar action against other public sector banks including IDBI Bank, Indian Overseas Bank and UCO Bank
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