Bank of Maharashtra (BoM) has come out with a clarification, after Reserve Bank of India put Bank of Maharashtra (BoM) under Prompt Corrective Action (PCA). This action is one of the supervisory tools to ensure sound financial health of the Bank and improve its health.
R P Marathe, MD and CEO of the Bank said that the PCA will in no way impact Bank’s existing business operations and assured that the Bank will re-bounce with renewed vigour and vitality. In the statement, the bank added that the PCA framework is not intended to constrain or restrict Bank’s operations.
