The finance ministry had last month asked these 11 PSU banks to come up with a plan to strengthen finances and meet the RBI’s capital adequacy norms. The finance ministry had last month asked these 11 PSU banks to come up with a plan to strengthen finances and meet the RBI’s capital adequacy norms. Of these, nine banks have already submitted report to the Department of Financial Services, an official said. The 11 banks under Prompt Corrective Action (PCA) are Dena Bank, Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, UCO Bank, Bank of India, Central Bank of India, Indian Overseas Bank, Oriental Bank of Commerce and Bank of Maharashtra. “During the Congress regime, the PSU banks gave loans recklessly, which impacted their financial health.

Source: Mint June 01, 2018 11:48 UTC