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Making efforts to cut bad loans to come out of PCA framework: Indian Overseas Bank


New Delhi: Indian Overseas Bank (IOB) is taking various measures to reduce its bad loans so as to come out of the RBI's prompt corrective action framework and its one-time settlement strategy has paid dividend in recoveries of bad loans, the state-run bank said in the annual report for 2019-20. The Chennai-based lender had returned to black, registering a net profit of Rs 144 crore in the January-March quarter of the fiscal ended March 2020, after a hiatus of 18 quarters. IOB, which is under the Reserve Bank of India's prompt corrective action (PCA) framework, had last posted ...


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