Govt wants RBI to ease lending norms for PCA banks in November 19 meeting

It's entirely up to North Block as the owner to find a way to get state-run banks out of the prompt corrective action framework

“A hospital bed is a parked taxi with the meter running,” said Groucho Marx. North Block, and the Reserve Bank of India (RBI) at its upcoming board meeting on November 19, will have to figure out a way to get 11 state-run banks, laid up in the prompt corrective action (PCA) sick bay, off the ventilator and talking. Given that these banks account for 19 per cent of systemic credit, at stake is the flow of credit to India Inc and their very future if they continue being on the ventilator.

Amid chatter about North Block and Mint Road smoking the