Question
Against which of the following bank RBI has started
prompt corrective action recently?ÂSolution
The Reserve Bank of India (RBI) clarified that prompt corrective action (PCA) is aimed at improving banks’ health, and asked the public to continue their banking relations with lenders placed under PCA. So far, IDBI Bank, UCO Bank and Dena Bank have been placed under PCA because of high net non-performing assets (NPA) and negative return on assets. The RBI had revised the PCA framework on 13 April 2017.
At Your Wits’ End
A type of finance in which a business would sell its accounts receivable (invoices) to a third party, is called?
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