Home - Banking News - Now it’s Time For Dena Bank Under Prompt Corrective Action (PCA)

Now it’s Time For Dena Bank Under Prompt Corrective Action (PCA)

Dena Bank is Bank number elevan under prompt corrective action (PCA). 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 are aready placed under Reserva Bank of India’s Prompt Corrective Action.

Read – What is Prompt Correction Action (PCA) ?

Dena Bank has shown the net loss to Rs 1,225.42 crore in the March quarter on mounting bad loans and higher provisioning to cover them. In a regular filling, bank has declared that the PCA initiated in view of high Net NPA and negative RoA ( return on assets). The gross NPAs of bank hitting a high of 22.4 per cent of the gross advances as on March 31, 2018. Net NPA of bank is 11.95%.

RBI moves has restricted the Dena Bank from assuming fresh credit exposure and recruitment of staff beside many others.

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