IDBI Bank shares surge 10% after removal from RBI's PCA framework
Shares of IDBI Bank on Friday closed with nearly 10 per cent gain after RBI removed the lender from its enhanced regulatory supervision or Prompt Corrective Action (PCA) framework after a gap of nearly four years
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New Delhi: Shares of IDBI Bank on Friday closed with nearly 10 per cent gain after RBI removed the lender from its enhanced regulatory supervision or Prompt Corrective Action (PCA) framework after a gap of nearly four years.
On Friday, the stock jumped 17.12 per cent to Rs 44.80 on BSE and finally closed at Rs 42, a net gain of 9.80 per cent.On NSE, it closed at Rs 42, climbing 9.80 per cent after rallying 17.64 per cent to Rs 45 during the day.
IDBI Bank stock has appreciated by Rs 8 in a week's time to Rs 38 from Rs 30 on BSE. In volume terms, 115.74 lakh shares were traded on BSE and over 12 crore on NSE. The Reserve Bank of India (RBI) had placed IDBI Bank under PCA framework in May 2017, after it had breached the thresholds for capital adequacy, asset quality (net NPAs was over 13 per cent in March 2017), return on assets and the leverage ratio.
