BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which organisation has taken off Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from the Prompt Corrective Action (PCA) framework allowing them to resume their normal lending activities recently?

A	SBI
B	SEBI
C	IRDAI
D	RBI

Explanation:

Detailed explanation-1: -RBI: RBI removes Allahabad Bank, Corporation Bank, Dhanlakshmi Bank from PCA framework-The Economic Times.

Detailed explanation-2: -RBI removes Central Bank of India from Prompt Corrective Action framework | Business News, The Indian Express.

Detailed explanation-3: -Taking all the above into consideration, it has been decided that Central Bank of India is taken out of the PCA restrictions subject to certain conditions and continuous monitoring.

Detailed explanation-4: -According to RBI regulations, shareholders with a 10% stake in the firm can invite an EGM. Dhanlaxmi Bank was even incorporated into the RBI’s Prompt Action Framework (PCA) to address significant financial degradation, as its liquidity management had previously fallen below necessary levels.

Detailed explanation-5: -After reviewing the performance of the Central Bank of India, RBI decided to remove the restrictions on the bank.

There is 1 question to complete.