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Dena Bank to face RBI heat as it reports loss for two consecutive years

Under PCA, RBI can clamp down on bank's business activities, curbing lending and branch expansion

Abhijit Lele  |  Mumbai 

Dena Bank is heading for prompt corrective action (PCA) after reporting net loss for a second consecutive financial year.   Under PCA, the Reserve Bank of India (RBI) will clamp restrictions on business activities, including curbs on lending and branch expansion. This is done to bring an ailing bank on the recovery path.   The public sector lender’s net loss for the year ended March 2017 declined to Rs 836 crore from Rs 935 crore in year ended March 2016.   Ashwani Kumar, chairman and managing director of Dena Bank, said the RBI would put restrictions on ...

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First Published: Wed, May 10 2017. 01:59 IST
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