The Reserve Bank of India placed Bank of India under the Prompt Corrective Action Framework, consequent to the onsite inspection under the Risk-Based Supervision Model carried out for the year ended March 2017. This is the first time that the central bank has invoked PCA for a large bank of the size of BoI. The PCA framework would apply without exception to all banks operating in India, including small banks and foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators.
June 2, 2018
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