- Thw Reserve Bank of India (RBI) has removed the restrictions of prompt corrective action plan (PCA) on three banks namely Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce.
- Bank of India and Bank of Maharashtra meet the regulatory norms including Capital Conservation Buffer (CCB) and have Net NPAs of less than 6% as per third quarter results. Oriental Bank of Commerce, though the net NPA was 7.15%, as per the published results of third quarter, the Government has since infused sufficient capital and bank has brought the Net NPA to less than 6%.
- Now there are total 8 banks under the PCA framework.
