Which banks are under PCA?

With this, only two public sector banks – Central Bank of India and Indian Overseas Bank – remain under RBI’s PCA framework.

Which bank has been recently moved out of prompt corrective action framework?

Indian Overseas Bank
The Reserve Bank of India took Indian Overseas Bank out of the Prompt Corrective Action Framework on September 29.

Which bank removed from PCA framework?

Reserve Bank of India on Wednesday announced removal of Prompt Corrective Action (PCA) restrictions on Indian Overseas Bank (IOB). This decision gives the bank more freedom for lending, especially to corporations and grow the network, subject to presribed norms.

When was PCA framework introduced by RBI?

2002
RBI had introduced a PCA framework for scheduled commercial banks in 2002 and the same has been reviewed from time to time based on the experience gained and developments in the banking system.

Is Central Bank of India under PCA?

The central bank has excluded the parameter of return on assets (ROA) from the list of triggers that could put a bank under the PCA framework. The RBI had placed Central Bank of India under the prompt corrective action framework in June 2017 for negative return on assets and higher ratio of bad loans, among others.

What is PCA banking?

‘Asset quality, capital key areas of watch’ The RBI on Tuesday issued a revised Prompt Corrective Action (PCA) framework for banks to enable supervisory intervention at “appropriate time” and also act as a tool for effective market discipline. The revised PCA framework will be effective from January 1, 2022.

What is PCA framework in banking?

PCA seeks to put a bank, whose financial parameters are out of kilter, back on the rails. The framework is intended to encourage banks to eschew certain riskier activities and focus on conserving capital so that their balance sheets can become stronger.

What is PCA in banking in India?

Which bank merged with Central Bank of India?

Table Showing the Merger List of PSU Banks

Acquirer Banks	Banks to be Merged	Staff Count (Approx.)
Bank of Baroda	Vijaya Bank, Dena Bank	85,675
Bank of India	Andhra Bank, Bank of Maharashtra	94000
Canara Bank	UCO Bank, Syndicate Bank, Indian Overseas Bank	1,40,000
Union Bank of India	IDBI, Central Bank of India	1,04,000