RBI delays discussing easing curbs despite government pressure: Source
The source said that the central bank`s board for financial supervision (BFS) only discussed the banks` September quarter results and did not address the so-called prompt corrective action (PCA) plan that they currently have to operate under. That plan which restricts their lending has been imposed in recent years after the 11 suffered from a surge in bad loans, capital depletion and mounting losses.
A crucial Reserve Bank of India (RBI) sub-committee did not discuss easing lending curbs facing 11 state-run banks. Image source: Reuters