Fri. Nov 18th, 2022

IDBI Bank share price added over 17 percent in the early trade on March 12 after the Reserve Bank of India (RBI) said it will be taken out of prompt corrective action (PCA) framework following improvement in its overall performance.
The bank in its release said that it has been taken out of Prompt Corrective Action Framework by the RBI.
The bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis.
The performance of bank was reviewed by the board for financial supervision (BFS) in its meeting held on February 18, 2021 and it was noted that as per published results for the quarter ending December 31, 2020 the bank is not in breach of the PCA parameters on regulatory capital, net NPA and leverage ratio.
“The bank has provided a written commitment that it would comply with the norms of minimum regulatory capital, net NPA and leverage ratio on an ongoing basis and has apprised the RBI of the structural and systemic improvements that it has put in place which would help the bank in continuing to meet these commitments,” the bank added.
Taking all the above into consideration, the bank has been taken out of the PCA framework, subject to certain conditions and continuous monitoring.
At 09:23 hrs IDBI Bank was quoting at Rs 42.75, up Rs 4.50, or 11.76 percent on the BSE.
The share touched a 52-week high of Rs 55.75 and a 52-week low of Rs 17.50 on 07 July, 2020 and 25 March, 2020, respectively.
Currently, it is trading 23.32 percent below its 52-week high and 144.29 percent above its 52-week low.