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RBI prescribes additional corrective measures against United Bank of India

The RBI, based on the assessment of the bank's position as on March 31, has ordered UBI to undertake a slew of actions focused on 'profit retention'

Reuters 

United Bank of India on Wednesday said the Reserve Bank of India (RBI) has prescribed additional actions under its 'prompt corrective action' (PCA) measures against the lender over its high level of bad loans, low leverage ratio and capital needs. The RBI, based on the assessment of the bank's position as on March 31, has ordered UBI to undertake a slew of actions focused on "profit retention" as well as raising capital, adding more provisioning against bad loans and controlling costs, the lender said in a filing.  The actions come after the RBI had ...

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First Published: Wed, December 20 2017. 21:32 IST
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