Efforts of banks under PCA frameworks are being monitored: RBI Governor

Reserve Bank of India Governor Shaktikanta Das has said four banks under the Prompt Corrective Action (PCA) framework are taking efforts and they are being monitored.

Currently, Indian Overseas Bank (IOB), Central Bank of India, UCO Bank and United Bank of India are under this framework, which puts several restrictions on them, including on lending, management compensation and directors' fees.

"We would like them to improve their performance and come out of PCA as quickly as possible. We are engaged with the banks. We are monitoring it. They are taking efforts. Banks are required to take several actions to come out of the PCA, and that is being monitored," Das told PTI in an interview.

Recently, the government announced capital infusion of Rs 11,521 crore into these four banks, with IOB getting the highest amount of Rs 4,360 crore. Central Bank of India got Rs 3,353 crore, UCO Bank Rs 2,142 crore and United Bank of India Rs 1,666 crore.

Besides, LIC-controlled IDBI Bank too received ..