Live
- ‘Dreaded’ naxal shot dead in Udupi dist
- SpaceX’s Starship Launch Marks Key Milestone Despite Booster Setback
- Mohanlal’s ‘Barroz: Guardian of Treasure’ Trailer Brings Disney-Style Magic to Malayalam Cinema
- Upgraded centres, downgraded pay: Teachers raise their voice
- Compensation to family of student killed in accident hiked to over Rs 21 lakh
- Vikrant Massey’s The Sabarmati Report Gets Tax-Free Status in Chhattisgarh
- Indonesia's President Prabowo Praises Jaishankar At G20 Summit; Modi Discusses Bilateral Ties
- Indians lead advanced AI usage globally, early AI adoption saving them 2 hrs a day
- Allu Arjun’s ‘Pushpa: The Rise’ Hindi Version to Re-Release on November 22
- Atishi inspects driverless train for Phase 4 of Delhi Metro
Bank of Maharashtra keen to prune NPAs
In view of the Bank of Maharashtra’s high net NPAs, which stand at 11.76 percent as of March 31, 2017, it has been decided by RBI to put the bank under Prompt Corrective Action (PCA), which is one of the supervisory tools to ensure sound financial health of the Bank.
Hyderabad: In view of the Bank of Maharashtra’s high net NPAs, which stand at 11.76 percent as of March 31, 2017, it has been decided by RBI to put the bank under Prompt Corrective Action (PCA), which is one of the supervisory tools to ensure sound financial health of the Bank.
Its objective is to facilitate the bank to take corrective measures to improve its health. However, Bank of Maharashtra in a statement assured its customers that it wouldn’t affect normal banking operations. RP Marathe, MD & CEO, Bank of Maharashtra, said: “The PCA will in no way impact bank’s existing business operations. The bank will rebounce with renewed vigour and vitality.”
The PCA framework is not intended to constrain or restrict bank’s normal operations for the general public. On the contrary, it’s intended to encourage banks to conserve capital and augment their operational efficiency.
During 2016-17, the bank maintained capital adequacy of 11.18 percent, improved CASA share from 36.6 percent to 44.89 percent, posted healthy rise of 47 percent in non-interest income and recorded higher NPA recoveries.
