Central Bank of India removed from RBI's Prompt Corrective Action list

After the Reserve Bank of India (RBI) removed the public sector lender from its Prompt Corrective Action (PCA) list on compliance with criteria like net non-performing assets (NNPAs) and capital ratios, shares of the Central Bank of India (CBI) increased 15% to Rs23.50 on the BSE in intraday trade on Wednesday amid high volumes.

When compared to the S&P BSE Sensex’s 0.05% drop at 09:41 AM, the CBI stock was trading 9% higher at Rs22.15. Around 33.16 million equity shares had been traded on the NSE and BSE as of the time this story was being written, more than double the counter’s previous trading volume. Prior to this, on September 30, 2021, the stock had reached a 52-week high of Rs25.15 a share.