Prompt Corective Action News Today : Breaking News, Live Updates & Top Stories | Vimarsana

May 24, 2021
Samuel Joseph J, Deputy Managing Director, IDBI Bank×
We’ve utilised the prompt corrective action period to change our business mix and strengthening of balance sheet.
During the four years that IDBI Bank was under prompt corrective action (PCA), it transformed itself from a predominantly corporate bank to a retail bank. And the Bank, which exited PCA on March 10, 2021, would like to keep it that way, according to Samuel Joseph J, Deputy Managing Director. In an interaction with
BusinessLine, he emphasised that it had aggressively accelerated provisioning, over and above the regulatory requirement, in the past to strengthen its balance sheet. So, write back to profits in the next two to three years, whenever the recovery from stressed assets happens, will be about ₹7,500 crore. Excerpts: ....

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