In an exclusive report by Zee Business Executive Editor Swati Khandelwal, the Reserve Bank of India (RBI) will soon take a call on taking out three public sector banks from the PCA (Prompt and Corrective Action). Khandelwal told Zee Business Managing Editor Anil Singhvi that these three banks have written a letter to the RBI to bring them out of the PCA as they fulfill the parameters to qualify for the RBI action. She went on to add that RBI will soon take action in this regard and most probably the decision would be in favour of the PSU banks. RBI has recently brought IDBI Bank out of PCA list on the same ground.

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When Anil Singhvi asked about the development in regard to these three banks at RBI, Swati Khandelwal said, "Three public sector banks — Indian Overseas Bank (IOB), Central Bank and UCO Bank have a written letter to the RBI asking for removal from the PCA list as their asset quality has now improved to an extent that is enough to meet their demand." Khandelwal added that RBI may soon take decision in their favour as they did in the case of IDBI Bank recently.

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On the reason why these banks have approached RBI, Swati Khandelwal told Anil Singhvi, "Like IDBI, these three banks fulfill the financial parameter like NPA and asset quality improvement over the period of time and hence RBI is expected to take its decision in favour of the three banks."