Top headlines: IOB out of PCA framework; Invesco takes Zee to NCLT

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RBI removes Indian Overseas Bank from Prompt Corrective Action framework

Reserve Bank of India on Wednesday announced removal of Prompt Corrective Action (PCA) restrictions on Indian Overseas Bank (IOB). This decision gives the bank more freedom for lending, especially to corporations and grow the network, subject to presribed norms.

It has been decided that Indian Overseas Bank is taken out of the PCA restrictions subject to certain conditions and continuous monitoring, said the banking regulator. Read more

Invesco moves NCLT against Zee, petition to be heard tomorrow

Invesco Fund, the 18 per cent shareholder in Zee Entertainment Enterprises (ZEEL),