Case Brief
The Board for Financial Supervision reviewed Indian Overseas Bank, which had been under the Prompt Corrective Action Framework. RBI noted that the bank’s published results for the year ended March 31, 2021 showed it was not in breach of PCA parameters. The bank also gave a written commitment to comply with Minimum Regulatory Capital, Net NPA and Leverage ratio norms on an ongoing basis and described structural and systemic improvements it had implemented. Based on this, RBI decided to take the bank out of PCA restrictions, subject to certain conditions and continuous monitoring.
Action Snapshot
- Primary Impact
- Lifted
- Entity Type
- Bank
- Action Type
- Action lifted