Government denies rumours of shutting down public sector banks


  • Government denies rumours of shutting down public sector banks
23-12-2017 | Pratidin Bureau. |

Dismissing rumours the government has there is no question of closure any public sector bank. Financial services secretary Rajeev Kumar on Friday said strengthening these banks by re-capitalisation plan over lakh crore rupees. He appealed to people not believe rumor mongers and that reform road map for firmly.

The RBI had initiated ‘Prompt Corrective Action’ (PCA) against some banks including Bank of India. The RBI said under its supervisory framework, it uses various measures and tools to maintain sound financial health of banks.

It said, PCA framework is one of such supervisory tools, which involves monitoring of certain performance indicators of the banks as an early warning exercise. RBI said, the objective is to facilitate the banks to take corrective measures including those prescribed by the RBI, in a timely manner in order to restore their financial health.

Tags : Government public sector banks Rajeev Kumar


loading...
Comments.
Leave a reply.