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Question

Which of the following 3 banks are in PCA at present as per RBI?

A UCO bank Correct Answer Incorrect Answer
B Indian Overseas bank Correct Answer Incorrect Answer
C Central bank of India Correct Answer Incorrect Answer
D All of the above Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Three banks under RBI’s PCA framework are UCO Bank, Indian Overseas Bank and Central Bank of India. PCA is Prompt Corrective Action. The objective of the PCA Framework is to enable Supervisory intervention at appropriate time and require the Supervised Entity to initiate and implement remedial measures in a timely manner, so as to restore its financial health.

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