RBI places Corporation Bank under 'prompt corrective action' framework

The bank had a net non-performing assets ratio of 10.24 percent as of end-September

Reserve Bank of India, RBI
Photo: Kamlesh Pednekar
Reuters
Last Updated : Dec 13 2017 | 7:54 PM IST

State-run Corporation Bank said on Wednesday that the Reserve Bank of India has initiated 'prompt corrective action' for the lender over high bad loans and the need to raise capital.

The bank did not provide further details on the central bank move, but said it would not have any material impact. https://bsmedia.business-standard.combit.ly/2Canye1

The bank had a net non-performing assets ratio of 10.24 percent as of end-September.

The central bank has this year put several other state-run lenders under its corrective action plan, mainly due to their high bad loans.

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First Published: Dec 13 2017 | 7:54 PM IST

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