Allahabad Bank intimates of appropriation of GoI's capital infusion of Rs 6896 cr

Allahabad Bank announced that out of the capital infusion of Rs 6896 crore received from Government of India, Rs 2750 crore has been appropriated to make loan loss provision in order to bring down the Net NPA ratio below the threshold under Prompt Corrective Action Framework and remaining Rs 4146 crore has been appropriated towards shoring up the capital base so as to enhance the Capital to Risk Weight Asset Ratio (CRAR) of the Bank above regulatory minimum of 10.875% with Tier 1 including CET 1 CRAR above 8.875% i.e. above the threshold under Prompt Corrective Action Framework of the Reserve Bank of India.

Powered by Capital Market - Live News