Under RBI watchlist, IDBI Bank, UCO Bank, Central Bank of India eye 2020 redemption
Sources said top officials of the 11-banks — IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank — made presentations before the panel and responded to queries.
![Under RBI watchlist, IDBI Bank, UCO Bank, Central Bank of India eye 2020 redemption Under RBI watchlist, IDBI Bank, UCO Bank, Central Bank of India eye 2020 redemption](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2018/06/27/43275-rbi-reuters.jpg?itok=H_e-qn6b&c=6c93fcff4ee2b6b549a8c9b8e94b77f9)
Eleven public sector banks that are under Reserve Bank of India’s watchlist for mounting bad loans on Tuesday expressed confidence before a parliamentary committee that they would emerge out of the central bank’s Prompt Corrective Action (PCA) framework by 2020, sources said.
Concerns were also raised about the “stagnation in lending operations” of state-owned banks during the meeting of the Standing Committee on Finance, headed by veteran Congress leader M Veerappa Moily.
Sources said top officials of the 11-banks — IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank — made presentations before the panel and responded to queries.
“They (the banks under PCA) talked about the roadmap to deal with their NPAs (non-performing assets) and expressed confidence of coming out of the RBI’s Prompt Corrective Action framework by 2020,” a source said.
WATCH THIS ZEE BUSINESS VIDEO HERE:
Under the PCA, banks face restrictions on distributing dividends and remitting profits. The owner may be asked to infuse capital into the lender. Lenders will also be stopped from expanding their branch networks. These would need to maintain higher provisions, and management compensation and directors’ fee will be capped.
Banks have to comply with the global norms on capital adequacy (Basel III) and make provision for non-performing assets, which have constrained lending operations
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
10:45 AM IST