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What the RBI’s corrective action on Bank of India means for depositors

Radhika Merwin
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There’s no reason for panic; the action is intended to strengthen the bank over the long run and protect depositors’ interests

With the RBI invoking Prompt Corrective Action (PCA) on Bank of India — one of the largest public sector banks — depositors are sure to be rattled. But if you are worried about your deposits being frozen or your bank going bust, rubbish such thoughts right away. The RBI’s PCA involves monitoring certain key performance indicators of banks, and taking corrective measures, if need be, to restore ...
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