Allahabad Bank

RBI approves merger of several public sector banks from April 1

The Reserve Bank of India (RBI) on Saturday approved the merger of several public sector banks from April 1. All branches of the Allahabad Bank will function as branches of Indian Bank and customers, including depositors of Allahabad Bank, will be treated as customers of Indian Bank from April 1.

Mar 28, 2020, 22:20 PM IST

India gets ready for NextGen Banks as Centre merges banks to create mega units

  The government on Friday announced the mega-merger of 10 PSU banks into four, where the Punjab National Bank, the Oriental Bank of Commerce and the United Bank to merge become the second-largest PSB while the Canara Bank and the Syndicate Bank will amalgamate to make the fourth-largest PSU bank entity.

Aug 30, 2019, 23:32 PM IST

Modi govt's mega banking reform: 10 Public Sector Banks to be merged into 4 entities

Punjab National Bank will become the second largest PSB in India with a total business of Rs 17.5 lakh crore post the merger while that of the Canara Bank and Syndicate Bank will be Rs 15.20 lakh crore.

Aug 30, 2019, 18:05 PM IST

Allahabad Bank's Q4 loss widens to Rs 3,834 crore

The public sector lender's net loss in the year-ago period stood at Rs 3,509.63 crore.

May 10, 2019, 18:42 PM IST

Allahabad Bank to raise Rs 4,000 cr equity capital via various modes

The decision was taken at the bank's board meeting held Tuesday.

Mar 27, 2019, 11:30 AM IST

Dhanlaxmi Bank, Allahabad Bank, Corporation Bank jump up to 10% post RBI move

Dhanlaxmi Bank zoomed 10 percent, Allahabad Bank 7.53 percent and Corporation Bank rose 5.82 percent on BSE.

Feb 27, 2019, 17:25 PM IST

RBI lifts lending curbs on Allahabad Bank, Corporation Bank, Dhanlaxmi Bank; removes them from weak-bank watch list

Private sector Dhanlaxmi Bank too has been taken out of the PCA Framework.

Feb 27, 2019, 10:17 AM IST

Govt announces Rs 48,239 crore recapitalisation plan for 12 PSBs

The government in December had infused Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds.

Feb 20, 2019, 17:57 PM IST

RBI slaps penalties on 7 banks for violation of norms

A penalty of Rs 1 crore has been imposed on Andhra Bank for similar violations.

Feb 13, 2019, 10:09 AM IST

Govt to infuse Rs 42,000 cr in PSU banks by March; next tranche likely in December

The government earlier this year pumped Rs 11,336 crore in five PSBs -- PNB, Allahabad Bank, Indian Overseas Bank, Andhra Bank and Corporation Bank -- to improve their financial health.

Nov 27, 2018, 10:49 AM IST

Allahabad Bank Q2 loss at Rs 1,823 cr on high NPA provisioning

The bank had posted a net profit of Rs 70.20 crore in the July-September quarter of 2017-18.

Nov 13, 2018, 18:22 PM IST

PNB scam: Govt dismisses former MD from service

Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank

Aug 13, 2018, 18:10 PM IST

PNB to honour claims by banks, but with conditions: Reports

State Bank of India and three other state-run banks, Union Bank of India, UCO Bank and Allahabad Bank, are among lenders who have extended credit based on the LoUs issued by PNB that were later found to be fraudulent.

Mar 13, 2018, 12:02 PM IST

RBI puts Allahabad Bank under prompt corrective action

The central bank has so far ordered corrective action for about 10 lenders, mostly due to their high bad loan ratios.

Jan 04, 2018, 12:34 PM IST

Govt appoints executive directors in 9 public sector banks

Bajrang Singh Shekhawat has been appointed executive director of Central Bank of India.

Oct 10, 2017, 14:53 PM IST

Nine out of 21 public sector banks reported losses in FY17

Nine of the 21 public sector banks, including IDBI Bank and Indian Overseas Bank, reported losses during 2016-17, the parliament was informed on Tuesday.

Jul 18, 2017, 15:28 PM IST

Finance Ministry in talks with PSBs to get a fix on growth plans, funding

The finance ministry has initiated detailed discussions with select public banks to assess their growth blueprint over the next three years and seek turnaround plans to check if they need more growth capital.

Apr 23, 2017, 12:10 PM IST

Eight Executive Directors appointed in various banks

Eight Executive Directors (EDs) have been appointed in various public sector banks on the recommendations of Banks Board Bureau.

Feb 17, 2017, 14:19 PM IST

Allahabad Bank cuts lending rate by 0.85%

Public sector lender Allahabad Bank on Monday slashed its benchmark lending rate by 0.85 percent in line with market competition.

Jan 09, 2017, 21:04 PM IST