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Corporation Bank Under Restrictions on Account of Looming NPA
December 18, 2017
In light of the massive rise of non-performing assets (NPA), the central bank RBI has imposed restrictions on public sector Corporation Bank’s banking operations.
Failing to handle the bad loans, Corporation Bank has come under the Prompt Correction Action (PCA) Framework, the eighth bank to meet such fate in the past 10 months.
Other banks on which the RBI had imposed restrictions in the recent past include Indian Overseas Bank, IDBI Bank, Oriental Bank of Commerce, UCO Bank, etc.
