Question
RBI has initiated 'prompt corrective action' on this bank and restrict the bank from hiring, opening branches and giving big-ticket loans.
Answer: Option C
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The Reserve Bank of India (RBI) has initiated 'prompt corrective action' on IDBI BankBSE 0.45 % which will restrict bank from hiring, opening branches and giving big ticket loans. The 'prompt corrective action' is triggered when a bank's bad loan is above 6%, it reports losses for two consecutive years. IDBI Bank's gross NPA had crossed 15% in
quarter ending December 2016.
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