Mumbai: Following Reserve Bank of India’s (RBI) restrictions imposed on Lakshmi Vilas Bank (LVB), the private lender said it shall make all efforts to improve its financial health. “Management of the bank welcomes the guidance of RBI and shall make all possible efforts to improve the overall financial health of the Bank. For FY19, the bank’s net NPA stood at 7.49%, capital adequacy ratio was at 7.72% and its RoA was -2.32%. Under PCA, banks are mandated to cut lending to corporates and focus on reducing concentration of loans to certain sectors. Banks currently under PCA are United Bank of India, Indian Overseas Bank, Central Bank of India, IDBI Bank and UCO Bank.

Source: Mint September 29, 2019 04:52 UTC