Back to Career News

Lakhshmi Vilas Bank Put Under Prompt Corrective Action

September 30, 2019

Lakhshmi Vilas Bank Put Under Prompt Corrective Action

The central bank RBI has put Lakhshmi Vilas Bank under prompt corrective action (PCA) framework. This raises questions on the proposed merger of the bank with Indiabulls Housing Finance Ltd.

This Saturday, RBI issued a regulatory filing that said that it has taken the move in light of a large number of bad loans, negative return on assets (RoA), and insufficient capital adequacy ratio. The action was based on RBI’s risk-based supervision for the financial year 2018-19.

Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY

Recommended for you ...

Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners
Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners

September 26, 2024

Banks Report Over 15% Growth in New Credit Card Additions: RBI Data
Banks Report Over 15% Growth in New Credit Card Additions: RBI Data

September 26, 2024

National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank
National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank

September 25, 2024

Chat on WhatsApp