Sunday, October 8, 2017

OBC under RBI's scanner

RBI has initiated a 'prompt corrective action' against state-owned Oriental Bank of Commerce for high bad loans.

The move will place various restrictions on the public sector lender including on fresh loans and dividend distribution.

Net NPA of the bank rose to 9.56 per cent of net advances as of June 2017, against 8.11 per cent a year ago.

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