This Indian bank is attracting the Govt’s attention for all the wrong reasons
Advertisement
Advertisement
Apparently, the finance ministry has put
"It is being discussed with the bank. There was a review meet and the bank is submitting its response," one of the officials told ET, demanding anonymity.
This is not the first time that IOB has raised eyebrows; thanks to its poor performance, it already comes under the RBI's prompt corrective action (PCA) regime. This happens when a lender crosses threshold limits on the capital to risk-weighted assets ratio (CRAR), net non-performing assets (NPAs) and return on assets (RoA).
Talking of the records, IOB's CRAR at the end of June was 9.75% and it posted a net loss of Rs 551 crore for the July-September quarter. It is also reported that there had been routine drops on some loans, which were made without the requisite approvals by the committee.
Advertisement
Earlier this week, finance minister Arun Jaitley had asked state-run banks to take off bad loans from their balance sheets; he also said that the government was willing to help them by taking the corrective measures needed.
Image source
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- Private Equity Investments
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market