IDBI Bank, currently under prompt corrective action (PCA) since May 2017, is expected to hold meeting with the Reserve Bank of India (RBI) this week to seek removal of operational restrictions. The lender will make a presentation to the RBI on its improved financial position and the management is hopeful of coming out of the PCA framework by the end of this month.
The RBI had placed IDBI Bank in May 2017, after it had breached the thresholds for capital adequacy, asset quality (net NPAs was over 13 per cent in March 2017), return on assets and the leverage ratio.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
