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RBI begins prompt corrective action against Bank of India; shares dip 5%

BoI had a net non-performing assets ratio of 6.47% as of end-September


Bank of India said on Wednesday that the Reserve Bank of India has initiated 'prompt corrective action' (PCA) against the lender over high bad loans. High net non-performing assets (NPA), insufficient common equity tier 1 (CET1) capital and negative return on assets (ROA) for two consecutive years have prompted the action, the bank said in a statement. The RBI issues a PCA to spur lenders to deal with bad debts, as one of the measures intended to tackle the menace of bad debt that has plagued Indian banks. The bank had a net non-performing assets ratio of 6.47 per ...

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First Published: Wed, December 20 2017. 16:23 IST