Allahabad Bank

Indian Bank on February 11 alerted customers that they may face inconvenience later this week as it will carry out the software migration.

As FDs worth Rs 3.3 crore go missing, Kolkata police probes MCA’s West Bengal office, Allahabad Bank officials

Surplus funds to the tune of Rs 3.3 crore of two companies in liquidation had been invested in term deposits of Allahabad Bank (now merged into Indian Bank). There are no records of those deposits, prompting the Kolkata police to launch an investigation into the role of bank officials and the liquidator’s office.

RBI excludes 6 PSBs from Second Schedule of RBI Act

A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as 'Scheduled Commercial Bank'. These six banks merged with other public sector banks (PSBs) with effect from April 1.

Indian Bank NPA to rise, no change in board post-merger

The coronavirus outbreak also poses new threats to the amalgamated entity to clock around 12 percent loan growth at the end of the next fiscal.

Allahabad Bank lowers external benchmark-linked loan pricing

While the RBI's repo rate remains unchanged at 5.15 percent, the three-month MIBOR (Average) has reduced to 5.75 percent from 6.15 percent.

Allahabad Bank cuts MCLR by 5 bps across tenors

The Asset Liability Management Committee of the bank has reviewed the existing MCLR and decided for a downward revision by 5 basis points (bps) across different MCLR tenors, the bank said in a regulatory filing.

Allahabad Bank Q3 net loss widens to Rs 1,987cr

Total business stood at Rs 3.93 lakh crore in the December quarter, the bank said in a release. It was Rs 3.67 lakh crore in the third quarter of 2018-19.

Allahabad Bank jumps 8% as govt injects fresh capital of Rs 2,153 cr

It has touched an intraday high of Rs 19.70. The stock also witnessed spurt in volume by more than 1.48 times.

Allahabad Bank gets fresh capital of Rs 2,153 cr from govt

The capital infusion is towards contribution of the central government in the preferential allotment of equity shares of the bank during the financial year 2019-20 as the government's investment, it said.

Allahabad Bank's loss widens in Q2 to Rs 2,114 cr, asset quality worsens

Gross non-performing assets (NPA) as a percentage of the gross advances rose significantly by 162bps sequentially to 19.05 percent.

Govt appoints Mallikarjuna Rao as MD and CEO of PNB

Rao, 57, currently the Managing Director and Chief Executive Officer of Allahabad Bank, has been appointed to the new post up to September 18, 2021.

Allahabad Bank board approves merger with Indian Bank

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

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, including merger of Allahabad Bank with Indian Bank.

RBI slaps fine on eight public sector banks for violating norms

Bank of Baroda, Bank of India, Indian Overseas Bank and Union Bank of India were fined Rs 1.5 crore each, while Allahabad Bank and Bank of Maharashtra were penalised Rs 2 crore each. Oriental Bank of Commerce was penalised with Rs 1 crore, the RBI said.

Allahabad Bank logs Rs 128 cr profit in Q1

Total income was down at Rs 4,747.49 crore in June quarter of 2019-20, as against Rs 4,794.04 crore in the same quarter of the last fiscal, the bank said in regulatory filing.

SFIO seeks action against Bhushan Steel's lenders, including SBI, PNB, LIC

In its report that runs into over 70,000 pages, the investigating agency has charged officials of 13 banks of being hand-in-glove with the Bhushan Steel promoters

Allahabad Bank slash 3% on reporting fraud by SEL Manufacturing

SEL Manufacturing is a fully provided non performing account.

Allahabad Bank reports Rs 688.27 crore fraud

Allahabad Bank informed the bourses that for outstanding dues of Rs 688.27 crore NCLT proceedings are in progress.

Allahabad Bank plunges 15% on reporting fraud of Rs 1,775 cr by Bhushan Power

It is the second lender, after Punjab National Bank, to report fraud by Bhushan Power

Allahabad Bank reports Rs 1,774 crore fraud by Bhushan Power and Steel

Bhushan Power & Steel defaulted on Rs 47,700 crore worth of loans in 2017 and was one of the 12 cases referred for resolution under Insolvency and Bankruptcy Code.

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

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's Q4 loss widens to Rs 3,834 cr

Total income during the last fiscal was down at Rs 18,806.38 crore as against Rs 19,487.51 crore a year ago.

Experts advise staying away from 34 stocks excluded from F&O

The move, a yearly practice by the exchange, is the interest of retail traders. The removal which is usually based on pre-defined criteria helps in maintaining liquidity in the instrument