Which banks are under PCA currently?

Now, only Mumbai-based Central Bank of India remains under PCA regime. RBI, in a statement, said its Board for Financial Supervision reviewed the performance of the IOB. The bank is not in the breach of the PCA parameters as per its published results for the year ended March 31, 2021, said RBI.

How many banks are under PCA in India?

With this, only two public sector banks – Central Bank of India and Indian Overseas Bank – remain under RBI’s PCA framework.

How many banks are under PCA?

Currently, there are three public sector lender Indian Overseas Bank (IOB), UCO Bank and Central Bank of India that are under the RBI’s PCA framework.

Which bank removed from PCA?

Reserve Bank of India
The Reserve Bank of India (RBI) on Wednesday removed Indian Overseas Bank (IOB) from the Prompt Corrective Action Framework (PCAF). The performance of the bank was reviewed by the Board for Financial Supervision.

Is Bank of India under PCA?

The PCA is a framework under which lenders with struggling financial indicators are placed under watch by RBI. Buoyed by hope of being similarly removed from the PCA list by RBI, shares of state-owned lender Central Bank of India, the last remaining bank under PCA, jumped 11\% to Rs 23.60 on NSE on Thursday.

Which bank is removed by RBI from its PCA framework?

Indian Overseas Bank
RBI removes Indian Overseas Bank from Prompt Corrective Action framework. Reserve Bank of India on Wednesday announced removal of Prompt Corrective Action (PCA) restrictions on Indian Overseas Bank (IOB).

Is bank of India out of PCA?

The Reserve Bank of India (RBI) has taken Indian Overseas Bank (IOB) out of the PCA restrictions, subject to certain conditions and continuous monitoring. The Chennai-headquartered public sector bank (PSB) was put under PCA in 2015. Now, among public sector banks, only Central Bank of India remains under the PCA.