Wednesday, 10 May 2017

RBI initiates PCA against IDBI Bank

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State-owned lender IDBI Bank on Tuesday evening said that Reserve Bank of India (RBI) has initiated a "prompt corrective action" (PCA) Ain view of its high non-performing assets (NPAs) and negative return on assets (RoAs). "RBI, vide their letter dated May 05, 2017, has initiated PCA for IDBI Bank in view of high NPA and negative ROA," IDBI Bank in a regulatory filing to the BSE. "This action will not have any material impact on the performance of the bank and will contribute to improving the internal controls of the bank and improvement in its activity." The development follows April 13, 2017 revision of the PCA guidelines by RBI.

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