Shaktikanta Das hospitalised, RBI says ‘no cause for concern’
The Reserve Bank of India (RBI) Governor Shaktikanta Das was hospitalised here earlier in the day with a minor health issue. The Central Bank said that “there is no cause for concern”.
Shares of Central Bank of India fell by 4 per cent on Thursday as the company has been placed under the RBI's watchlist on Prompt Corrective Action (PCA) owing to high bad loans and negative return on assets.
The stock lost 3.98 per cent to Rs.97.60 on BSE.
On NSE, shares of the company dipped 3 per cent to Rs.99.
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IDBI Bank, Indian Overseas Bank, UCO Bank and Dena Bank have already come under the PCA initiated by the Reserve Bank, which is a noose-tightening on fresh loan disbursal as well as dividend distribution.
"Reserve Bank of India, vide its letter dated 13 June, 2017, has put the bank under Prompt Corrective Action in view of high NPA (non-performing assets) and negative return on assets (RoA)," Central Bank of India said in a regulatory filing yesterday.
For the fiscal ended March 2017, the bank reported a net loss of Rs.2,439 crore, against a loss of Rs.1,418 crore in 2015-16.
Net non-performing assets (NPAs) also jumped to 10.20 per cent of net advances for the fiscal from 7.36 per cent year ago.
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