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RBI Initiates 'Corrective Action' Against Oriental Bank Of Commerce
The move will place various restrictions on the public sector lender RBI has initiated similar action against some other public sector banks OBC had reported a net loss of Rs. 486.20 crore for the first quarter
07 Oct 2017, 08:13 PM IST 
Net NPA of the bank rose to 9.56 per cent of net advances as of June 2017
New Delhi: The RBI has initiated a 'prompt corrective action' against state-owned Oriental Bank of Commerce (OBC) for high bad loans. The move will place various restrictions on the public sector lender including on fresh loans and dividend distribution.
"The Reserve Bank of India...has put the Bank under Prompt Corrective Action in view of high Net NPA (non-performing asset)," the OBC said in a regulatory filing.
It, however, adde...
