The Reserve Bank of India (RBI) has initiated "prompt corrective action" for state-run IDBI Bank over its high bad loans and negative return on assets, the lender said on Tuesday. IDBI, in a filing to the stock exchanges, said the action "will not have any material impact" on its performance and expected it to help improve its internal controls and performance. It did not give details of the corrective action. IDBI is the first lender to come under the RBI central bank curbs after the regulator revised the so-called prompt corrective action framework last month, tightening thresholds around bad loans.
Get profit from the Financial Market with lots of profitable service packages and more click here--- http://www.ripplesadvisory.com/nifty-future-.php
The Reserve Bank of India (RBI) has initiated "prompt corrective action" for state-run IDBI Bank over its high bad loans and negative return on assets, the lender said on Tuesday. IDBI, in a filing to the stock exchanges, said the action "will not have any material impact" on its performance and expected it to help improve its internal controls and performance. It did not give details of the corrective action. IDBI is the first lender to come under the RBI central bank curbs after the regulator revised the so-called prompt corrective action framework last month, tightening thresholds around bad loans.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.