The Reserve Bank of India (RBI) has initiated Prompt Corrective Action (PCA) for Bank of Maharashtra in view of high net NPA. This action will not have any material impact on the performance of the Bank and will contribute to improve the internal controls of the Bank and improvement in its Asset Quality, Profitability and efficiency.
Recently, RBI had put Central Bank of India under PCA in view of high net NPA and negative RoA.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The bank also offers services to agricultural and SME sectors.
