Allahabad Bank draws a road map to come out of PCA list by June

Allahabad Bank hopes to come out of the Prompt Corrective Action (PCA) list by June after returning to profitability, said its Managing Director and Chief Executive Officer S S Mallikarjuna Rao.

Earlier, three public sector banks — Bank of India, Bank of Maharashtra and Oriental Bank of Commerce — were removed from the PCA list.

Allahabad Bank expects fresh capital infusion from the government by the end of this month or early next month, which will help it come out of PCA framework in terms of two parameters — capital to risk-weighted assets ratio (CRAR) and common equity tier-1 (CET1).