Allahabad Bank

Saturday, Apr 20, 2024 | Last Update : 05:35 PM IST

Union Finance Miniter Nirmala Sitharaman (PTI)

Govt to bring amendments to two Acts to enable privatisation of PSU banks

Finance Minister announced privatisation of Public Sector Banks (PSBs) as part of disinvestment drive to garner Rs 1.75 lakh crore

16 Feb 2021 10:42 PM

Government of India public sector banks in India. (Photo- FAVPNG)

Mega merger of state-run banks comes into force from April 1: RBI

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan

29 Mar 2020 12:33 PM

Allahabad Bank shares closed 0.56 per cent down at Rs 26.85 on BSE.

Allahabad Bank lowers interest rates by up to 35 bps

The RBI repo rate has been cut down to 5.15 per cent from the existing rate of 5.40 per cent

31 Oct 2019 7:10 PM

Finance Minister Nirmala Sitharaman had on August 30 announced the consolidation of 10 state-run banks into four large-scale lenders.

Allahabad Bank board approves merger with Indian Bank

Employees and officers of Allahabad Bank staged a demonstration in front of its headquarters here to protest against the merger.

17 Sep 2019 9:00 AM

A meeting of the board of directors of the bank is scheduled to be held on Monday, 16th September, 2019.

Boards of Allahabad, Andhra Bank schedule meeting for merger proposals

Following next year, Bank of Baroda had merged Vijaya Bank and Dena Bank with itself.

12 Sep 2019 9:14 AM

We have to go to board first...there is a process to follow. In the next few months, boards of both banks should complete the process. I expect that all the process should ideally be over by March 31, said Indian Bank Managing Director Padmaja Chunduru.

Indian Bank expects to complete merger with Allahabad Bank by March 31

Last week, the government announced consolidation of 10 public sector banks into four mega state-owned lenders.

03 Sep 2019 3:46 PM

Shares of the bank traded at Rs 38.95 apiece on the BSE, down 0.26 per cent from the previous close.

Allahabad Bank okays raising Rs 2,000 cr equity capital via QIP

The Kolkata-headquartered lender is scheduled to announce its June 2019 quarter earnings on Wednesday.

31 Jul 2019 3:12 PM

Market valuation of the public sector bank dipped Rs 1,357.53 crore to Rs 16,189.47 crore on the BSE.

Allahabad Bank stock drops 8 pc after reporting Rs 1,775-cr fraud

Allahabad Bank is the second state-owned lender to report a fraud by Bhushan Power and Steel Ltd (BPSL), to the RBI.

15 Jul 2019 6:35 PM

JSW Steel had revised its offer from Rs 11,000 crore to Rs 18,000 crore and later to over Rs 19,000 crore, whereas Tata Steel's last offer was at Rs 17,000 crore after it had refused to revise its bid.

Not backing out from buying Bhushan Power: JSW tells NCLT

NCLT said that alleged fraud reports will not have any impact on the insolvency resolution process and JSW's resolution plan for BPSL.

15 Jul 2019 3:29 PM

Bhushan Power & Steel could not be immediately reached for comment on the latest allegation. (Photo: Allahabadbank.in)

Allahabad Bank reports USD 259 mn alleged fraud by Bhushan Power & Steel

Bhushan Power & Steel among the first 12 companies referred by RBI to a bankruptcy court for a debt resolution process.

15 Jul 2019 8:35 AM

Allahabad Bank on Saturday became the second state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts. (Photo: Allahabadbank.in)

After PNB, Allahabad Bank reports Rs 1,700 crore fraud by indebted firm

Allahabad Bank said in a statement that it had told the RBI that it had identified a fraud worth over Rs 1,700 crore in Bhushan's accounts.

14 Jul 2019 10:33 AM

The Kolkata-based lender registered a loss of Rs 4,674 crore in 2017-18 and a loss of Rs 279 crore during 2016-17.

Allahabad Bank hopes to return in black in Q1, gets board nod for Rs 4,000 cr fund raise

During the fiscal, total reduction in NPA accounts stood at Rs 8,584.33 crore.

05 Jun 2019 1:35 PM

PNB could start the process of taking control of the banks in the next three months, according to the sources, who declined to be named, as they are not authorised to speak to the media. (File pic)

Punjab National Bank may take OBC, Andhra, Allahabad bank in fold

This could be the one of the first decisions to be taken by the new government after election results are announced on May 23.

22 May 2019 12:35 PM

The marginal cost of funds-based lending rate (MCLR) for one-year loan has been reduced to 8.60 per cent from 8.65 per cent effective May 14, Allahabad Bank said in a BSE filing.

Allahabad Bank cuts lending rate by 5 bps

Most of the loans including housing loans are benchmarked against MCLR for one year.

13 May 2019 2:38 PM

"Efforts will continue to get capital out of Universal Sompo and also from selling off non-core assets like properties", MD and CEO of Allahabad Bank S S Mallikarjuna Rao said.

Allahabad Bank to raise capital next fiscal

The bank is targeting to raise Rs 250 crore to Rs 300 crore by selling non-core assets, like properties.

15 Mar 2019 3:40 PM

The RBI further it has also been decided to take Dhanlaxmi Bank out of the PCA Framework, subject to certain conditions and continuous monitoring.

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

The RBI on Tuesday removed the three banks from its Prompt Corrective Action (PCA) framework.

27 Feb 2019 12:27 PM

Allahabad, Corp Bank, Dhanlaxmi out of PCA

BoI, BoM & OBC were taken out of framework.

27 Feb 2019 3:08 AM

Consumers will now have a direct access to SBI Life's range of protection, wealth creation and savings products.

Allahabad Bank, SBI Life join hand for bancassurance partnership

This will empower the consumer to address their complete financial needs under one roof.

31 Dec 2018 5:49 PM

Ex-CEO of Allahabad bank granted bail in PNB scam

The government on August 13 dismissed Ananthasubramanian from service.

21 Aug 2018 1:55 AM

Usha Ananthasubramanian headed the bank between August 2015 and May 2017, before moving to the Allahabad Bank. (Photo: File)

PNB fraud: CBI court grants bail to ex-MD Usha Ananthasubramanian

Earlier this month, the court had taken cognisance of the sanction granted by the President to prosecute Ananthasubramanian in the case.

20 Aug 2018 6:25 PM

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Shobhaa De

allahabad bank