Efforts of banks under PCA framework being monitored: RBI Governor

Reserve Bank of India Governor Shaktikanta Das has said four banks under the Prompt Corrective Action (PCA) framework are making efforts and they are being monitored.

Currently, Indian Overseas Bank (IOB), Central Bank of India, UCO Bank and United Bank of India are under this framework, which puts several restrictions on them, including on lending, management compensation and directors' fees.

"We would like them to improve their performance and come out of PCA as quickly as possible. We are engaged with the banks. We are monitoring it. They are taking efforts. Banks are required to take several actions to come out of