Central Bank of India shares jump nearly 7 pc as RBI removes co from PCA watchlist

New Delhi: Shares of Central Bank of India on Wednesday jumped nearly 7 per cent after the RBI said the company has been removed from the Prompt Corrective Action Framework (PCAF).

The company's shares climbed 6.63 per cent to settle at Rs 21.70 apiece on the BSE. During the day, it zoomed 15.47 per cent to Rs 23.50.

On the NSE, it jumped 6.38 per cent to end at Rs 21.65 apiece.

On Tuesday, the Reserve Bank of India (RBI) said Central Bank of India has been removed from the PCAF watchlist following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.

Central Bank of India was put under the PCA framework in June 2017 due to its high net non-performing assets (NPAs) and low return on assets.

In a statement, the RBI said the performance of Central Bank of India was reviewed by the Board for Financial Supervision, and it was noted that as per the assessed figures for the year ended March 31, 2022, the bank was not in breach of the PCA parameters.