RBI places deposit, lending restrictions on Allahabad Bank
The RBI has asked state-owned Allahabad Bank to reduce its exposure to unrated and high-risk advances in view of deteriorating financial health. The central bank also restricted the lender's access to raise high-cost deposits and creation of non-banking assets. Notably, the bank reported a loss of â¹3,509 crore for the March quarter amid worsening asset quality.