February 26, 2019 / 1:28 PM / 3 months ago

India cenbank takes 3 banks off corrective action list

Feb 26 (Reuters) - India’s central bank said on Tuesday it removed state-run Allahabad Bank and Corporation Bank Ltd from its prompt corrective action framework (PCA) after the government infused fresh capital into these lenders.

The banks said their asset quality and capital ratios were no longer in breach of the PCA thresholds after the infusion, the Reserve Bank of India said in a statement here

The central bank also removed Dhanlaxmi Bank from the framework, as the bank was found to be not breaching any of the risk thresholds. (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu)

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