Allahabad Bank: Latest News and Updates, Top Stories, Videos, Photos About Allahabad Bank

Merger Of 8 PSU Banks Comes Into Effect From April 1: Here’s All You Should Know And Do

Eight PSU Banks namely Vijaya Bank, Corporation Bank, Andhra Bank, Syndicate Bank, Oriental Bank of Commerce, United Bank of India,Allahabad Bank and Dena Bank will see merger coming into effect from April 1, 2021. So, if you are a customer of ...

Indian-Allahabad Bank Merger; Know Post-Merger Details

Indian Bank has announced that it has successfully completed the process of technical migration of the former Allahabad Bank software with the Indian Bank CBS/ITMS software in a regulatory filing. Indian Bank took Twitter to make the announcement. "We request you ...

Allahabad Bank Surges 11% On Receiving Fresh Capital From Govt

Shares of Allahabad Bank climbed as much as 10.9 percent to an intraday high of Rs 19.70 apiece on Friday. The surge comes a day after the public-sector lender said that it will get a fresh capital infusion of Rs 2,153 ...

Allahabad Bank To Launch MSME And Retail Loans Linked To External Benchmarks

In a stock exchange filing this week, Allahabad Bank said that it will be launching retail loans and loans to MSMEs that will be linked to external benchmarks, starting 1 October. It also said that it will link large savings deposits ...

What Will PSB Mergers Mean For Customers, Employees And Shareholders?

With a motive to strengthen the public sector banking (PSB) business, Finance Minister Nirmala Sitharaman, on Friday, announced the consolidation of 10 PSBs into 4. These mergers will take time to be implemented, however, stakeholders of the decision, that is, the customers, ...

PNB And Allahabad Bank Launch Repo Rate-Linked Loans

On Tuesday, Allahabad Bank and Punjab National Bank informed of the launch of their retail loan products which will be linked to the Reserve Bank of India's repo rate as an external benchmark....

PSU Bank Shares Surge On Govt’s Recapitalization Announcement

Shares of public-sector banks gained in trade on Monday morning over the government's recapitalisation buzz. On Friday, post market hours, Finance Minister Nirmala Sitharaman announced a round of measures to aid the slowing Indian economy, which included a Rs 70,000 crore ...

Allahabad Bank Reports Fraud Worth Rs 688 Crore By SEL Manufacturing

Less than week after reporting its exposure to Bhushan Steel and Power Ltd fraud of Rs 1,774.82 crore, Allahabad Bank informed the stock exchanges of another fraud by SEL Manufacturing. "We have to inform that a fully provided non-performing account, SEL ...

Allahabad Bank Falls Over 14% On Reporting Exposure To Bhushan Power Fraud

Shares of Allahabad Bank fell over 14 percent in trade on Monday morning to hit an intraday low of Rs 40.35 apiece on NSE. The decline comes after the state-owned lender reported a fraud of over Rs 1,774 crore by Bhushan ...

Allahabad Bank Loans Get Cheaper

In a stock exchange filing on Monday, state-owned Allahabad Bank announced a reduction in its benchmark lending rate by 0.05 percent across various tenors. The marginal cost of funds-based lending rate or MCLR for one-year has been reduced to 8.60 percent ...

Why Banks Are Having A Disastrous Quarter?

Banks have had one of the worst quarters in recent times. ICICI Bank saw profits halved, while Allahabad Bank, Union Bank, Canara Bank and UCO Bank reported massive losses. Federal Bank shares on the other hand plunged almost 10 per cent ...

Allahabad Bank Reports Net Loss Of Rs 3,509.63 Crores In Q4 2018

Allahabad Bank reported a net loss for the fourth quarter of 2018 of Rs 3509.63 crore, as against a profit of Rs 111.16 crore during the fourth quarter of 2017. The reason behind the decline in profit is attributed to increase ...

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