Six more state-run banks are at risk of entering the Reserve Bank of India’s prompt corrective action (PCA) framework, officials said. These include Punjab National Bank, Union Bank of India and Syndicate Bank, they said, adding that this may reduce the chances of the finance ministry’s plans to sell the good loans of weak banks to stronger lenders coming to fruition.
According to the latest banking news, 6 more state-run banks will now be under the PCA framework as set up by the RBI. This is because of the bad debts and misdoings that have been recorded in the banks’ regular operations. We all know how banks have been working lately. Now news like these makes one wonder what if banks could have had a well trained and well-motivated staff. Read the following paragraphs they are the news item that appeared in the business today website today.