A day after three PSU banks were removed from Prompt Corrective Action (PCA) framework of the RBI, Finance Minister Piyush Goyal Friday expressed hope that other remaining 8 lenders will be out of the list soon.
Various steps taken by the government has helped the banks significantly and as a result three banks — Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) — are out of the PCA framework, he said while presenting the Interim Budget for 2019-20.
The RBI Thursday lifted lending curbs on three out of 11 weak public sector banks (PSBs).
Eight public sector banks — Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank — still remain under PCA framework, which imposes lending restrictions and prevents them from expanding, among other curbs.
[“source=economictimes.indiatimes”]
