RBI restricts Dena Bank from fresh credit exposure and staff recruitment

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Dena BankThe Reserve Bank of India (RBI) has barred Dena Bank from fresh credit exposure and recruitment of new staff.

The latest directive was issued by the central bank to the public sector bank at a meeting dated on May 11, informed Dena Bank while filing to the stock exchanges.

Last year, RBI initiated prompt corrective actions against the bank by imposing some restrictions, in a bid to curb the menace of Non-Performing Assets (NPAs) and negative Return on Assets. This corrective measure too was initiated in May.

On Friday, the bank reported a net loss of Rs 1,225 crore for the fourth quarter that ended March 31, 2018. The loss was higher than t the net loss of Rs 575 crore reported in the same quarter last year.

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