Oriental Bank of Commerce’s net NPA rose to 9.56% of net advances as of June against 8.11% a year ago. Photo: Pradeep Gaur/MintNew Delhi: The Reserve Bank of India (RBI) has initiated a ‘prompt corrective action’ against state-owned Oriental Bank of Commerce for high bad loans. Net NPA of the bank rose to 9.56% of net advances as of June against 8.11% a year ago. The RBI has initiated similar action against other public sector banks including IDBI Bank, Indian Overseas Bank and UCO Bank. Oriental Bank of Commerce’s shares had traded last at Rs123.50 a piece on BSE on Friday, up 1.31% over previous close.

Source: Mint October 07, 2017 14:26 UTC