Allahabad Bank, Corporation Bank, Dhanlaxmi Bank up 4-10% after RBI lifts restrictions

Shares of Allahabad Bank, Corporation Bank and Dhanlaxmi Bank rose 4-10 percent in the early trade on Wednesday after RBI lifted restrictions imposed on the banks under RBI PCA framework.

Reserve Bank of India (RBI) lifted the restrictions imposed on Allahabad Bank and Corporation Bank under RBI Prompt Corrective Action (PCA) framework with effect from February 26, 2019 subject to certain conditions and continuous monitoring.

Also, RBI decided to take Dhanlaxmi Bank out of the PCA Framework, subject to certain conditions and continuous monitoring, as the bank is found to be not breaching any of the risk thresholds of the PCA framework.

Allahabad Bank and Corporation Bank had received Rs 6,896 crore and Rs 9,086 crore respectively.

Meanwhile, RBI will continuously monitor the performance of these banks under various parameters.

At 09:20 hrs Allahabad Bank was quoting at Rs 45.50, up 3.76 percent and Corporation Bank was quoting at Rs 31.40, 7.53 percent.

Dhanlaxmi Bank was quoting at Rs 14.95, up 6.79 percent on the BSE.

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