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9 Weak Lenders Submit 2-Year Recovery Plan to Govt
June 04, 2018
Photo credit: USDAgov on VisualHunt.com / CC BY
9 public sector banks (PSBs) that have been put under the Prompt Correction Action (PCA) framework by the central bank RBI have submitted a 2-year recovery report to the centre in which they mention how they plan to reduce their corporate loan book and sell equity in various subsidiary companies.
There are 11 PSBs under the PCA as of today, all of which were asked by the finance minister Piyush Goyal to submit their plan of action. 9 of these have submitted a 2-year plan.
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