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Last Updated : Feb 28, 2019 08:50 AM IST | Source: CNBC-TV18

Allahabad Bank expects more recovery from NCLT accounts: CEO

"We have targeted recovery of Rs 2,000 crore," he said.

CNBC TV18 @moneycontrolcom

The Reserve Bank of India (RBI) has removed Allahabad Bank and Corporation Bank from the prompt corrective action (PCA) list. SS Mallikarjuna Rao, Managing Director and CEO of Allahabad Bank, spoke to CNBC-TV18 about the development.

Rao said, "The lifting of PCA has created a wonderful atmosphere in the entire Allahabad Bank employee base."

"With respect to credit deployment, even in earlier occasions I had indicated that we already have a good amount of headroom for credit deployment, so the plan for March 2019 as well as June 2019, on the line will continue," he added.

Talking about the NCLT cases, Rao said, "NCLT and non-NCLT cases, in Q4, we have targeted for recovery of Rs 2,000 crore; recovery and upgradation together without considering the NCLT."

Source: CNBC-TV18
First Published on Feb 27, 2019 05:41 pm
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