RBI removes Central Bank of India from PCA framework after more than 5 yrs

Central Bank of India has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis, says RBI

Reserve Bank of India today removed the Central Bank of India from the Prompt Corrective Action (PCA) framework on complying with parameters like net non-performing assets (net NPAs) and capital ratios.

While removal paves way for normal functioning for business growth, Mumbai-based public sector lender would still be subject to certain conditions and continuous monitoring.

RBI had placed Central Bank under PCA in June 2017 due to high net NPAs and negative return on assets. Central Bank was the last of the public sector lenders to come out of PCA. Indian Overseas Bank and UCO Bank were removed from the