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RBI has Taken IDBI Bank out of PCA Framework

Published on March 11, 2021
Current Context: The Reserve Bank of India (RBI) has taken out IDBI Bank from the Prompt Corrective Action (PCA) framework as enhanced regulatory supervision by RBI.
RBI has Taken IDBI Bank out of PCA Framework
  • In May 2017, RBI had inducted IDBI Bank into PCA because of increased risk-weighted assets.
  • The IDBI was taken out of the framework after 4 years because of its improved financial performance. IDBI Bank is owned by the Life Insurance Corporation of India.
  • Upon coming out of the PCA framework, the IDBI bank has given a written commitment to RBI that it will comply with all the norms of minimum regulatory capital, bad assets and leverage ratio on an ongoing basis.
  • Also, IDBI bank has made structural and systemic improvements that will help the bank to meet the requirements of norms.
  • Static Part: 
    • HQ of RBI and Industrial Development Bank of India (IDBI) Bank: Mumbai
    • Tagline of IDBI Bank: Banking for All, Aao Sochein Bada

Question: 

Q.1 Recently which of the following bank was taken out of PCA Framework by RBI?
a. Indian Overseas Bank
b. IDBI Bank
c. UCO Bank
d. Central Bank of India
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