PW Bureau
Due to inadequate capital and high levels of bad debt, Allahabad Bank, United Bank of India, Corporation Bank, UCO Bank, Central Bank of India and Indian Overseas Bank are still under PCA plan
New Delhi: The remaining six nationalised banks under the Prompt Corrective Action (PCA) list must make progress on seven parameters, including net interest margins and non-performing asset (NPA) recognition, to receive the government's help for coming out of the PCA framework, the Finance Ministry said. Due to inadequate capital and high levels of bad debt, Allahabad Bank, United Bank of India, Corporation Bank, UCO Bank, Central Bank of India and Indian Overseas Bank are still under PCA.
RBI lifts a variety of restrictions on lending and expansion of businesses when removing banks from the list.