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Dena Bank Put Under PCA by RBI
May 23, 2018
In light of the increased non-performing assets with the public sector Dena Bank, the central bank RBI has put the lender under the Prompt Corrective Action (PCA) framework. This imposes restrictions on hiring new employees and disbursing fresh loans.
In a recent regulatory filing, the Reserve Bank of India (RBI) said that it has initiated PCA for Dena Bank “in view of high NPA and RoA (return of assets)”
The financial situation of Dena has been worsening continually. Compared to March 2017 when it’s gross NPAs stood at 16.27%, in March 2018 they rose to a high of 22.4%. In addition to that, the net NPAs also increased from 10.66% to 11.95%.
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