BANKING GENERAL KNOWLEDGE
Question
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SBI
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SEBI
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IRDAI
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RBI
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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.