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ICRA upgrades outlook on PNB, BoI, 2 other lenders

Rating agency ICRA on Thursday revised upwards its outlook on four state-owned banks to stable from negative. The four banks are Bank of India, Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and Bank of Maharashtra. Capital infusion by the government in these banks also led to their exit from the RBI’s prompt corrective action (PCA) framework. The government in December had infused Rs 10,100 crore into Bank of India, Rs 4,500 crore into Bank of Maharashtra and Rs 5,500 crore into OBC. PNB has received Rs 14,156 crore so far in this fiscal.

Read More at Moneycontrol News date : 15 Mar 2019, Friday

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