The Reserve Bank of India (RBI) has placed public sector Allahabad Bank under Prompt Corrective Action (PCA) framework post an on-site inspection of high NPAs and negative return of assets for fiscal 2016-17. The RBI inspection has revealed high net Non Performing Assets (NPAs) and negative Return on Assets (ROA) for two consecutive years.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.