The NPA ratio was one of the poorest in the industry. It was 15.43% a year ago and 17.18% at the end of December last year.It reported fourth quarter loss of Rs 588 crore on dipping income compared with Rs 1715 crore loss in the year ago period. It has to activate a plan to recover loans and undertake a business process re-engineering.In a regulatory filing to stock exchanges , the bank said that RBI has initiated prompt corrective action in view of high NPA and negative return on assets. “These measures aimed at improving performance of the bank and to strengthen internal controls of the bank,” it said.Its total business stood at Rs 332940 crore with advances at Rs 131655 crore. The government has infused Rs 1150 crore in March by subscribing its preferential shares.

Source: Economic Times May 12, 2017 14:48 UTC