RBI removes Allahabad Bank, Corp Bank, Dhanlaxmi from PCA framework

Move will allow them to carry on normal business, including lending

The Reserve Bank of India (RBI) on Tuesday removed three commercial banks – Allahabad, Corporation and Dhanlaxmi -- from the prompt corrective action (PCA) framework. This will allow them to carry on normal business, especially lending.

Early this month, RBI had taken out three public sector banks - Bank of India (BoI), Bank of Maharashtra (Mahabank), and Oriental Bank of Commerce (OBC) out of the framework.

Mumbai-based IDBI Bank, Central Bank of India, Dena Bank, Chennai-based Indian Overseas Bank and two Kolkata-based lenders -- United Bank of India and UCO Bank -- are still under the PCA framework.