 "RBI places Corporation Bank under 'prompt corrective action' framework")
State-run Corporation Bank said on Wednesday that the Reserve Bank of India has initiated 'prompt corrective action' for the lender over high bad loans and the need to raise capital.
The bank did not provide further details on the central bank move, but said it would not have any material impact. http://bit.ly/2Canye1
The bank had a net non-performing assets ratio of 10.24 percent as of end-September.
The central bank has this year put several other state-run lenders under its corrective action plan, mainly due to their high bad loans.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app