RBI Lifts Prompt Corrective Action Restrictions On Central Bank Of India – The Reserve Bank of India (RBI) has lifted the Central Bank of India from the Prompt Corrective Action (PCA) framework after it found the bank was not in breach of any parameters.
- The board for Financial Supervision reviewed the performance of the Central Bank of India, currently under the Prompt Corrective Action Framework (PCAF) of RBI.
- The bank has not breached any PCA parameters.
- Prompt Corrective Action (PCA) is a framework under which the central bank keeps eye on financially weak banks.
About Reserve Bank of India (RBI) –
- Founded: 1 April 1935, Kolkata
- Currency: Indian rupee (₹)
- Founder: British Raj
- Ownership: Ministry of Finance, Government of India
- Governor: Shaktikanta Das
About Central Bank Of India –
- Headquarters: Mumbai
- Founded: 21 December 1911
- Founders: Sorabji Pochkhanawala, Pherozeshah Mehta
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