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Bank of India to be out of RBI watch list soon as recovery picks up: MD


Bank of India (BoI) has put in place an aggressive bad loan recovery strategy and hopes to be out of the RBI’s watch list soon, the state-run lender’s Managing Director Dinabandhu Mohapatra said.Following inspection of books in March 2017, Reserve Bank of India (RBI) downgraded some of BoI’s accounts to NPA and placed the bank under the Prompt Corrective Action (PCA) framework.Downgrading of accounts impacted the profitability as well as non-performing asset (NPA) position of the bank retrospectively.
Source: Latest News

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