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Allahabad Bank

Indian Bank Q1 results: Net profit rises 41% to Rs 1,709 crore

Indian Bank Q1 results: Net profit rises 41% to Rs 1,709 crore

Thu, Jul 27, 2023

State-owned Indian Bank on Thursday posted a 41 per cent increase in net profit at Rs 1,709 crore in the April-June quarter, mainly due to decline in bad loans.

Cheque books of these banks will be discontinued from October 1; know what you need to do

Cheque books of these banks will be discontinued from October 1; know what you need to do

Mon, Sep 27, 2021

On April 1, 2020, OBC and United Bank of India were merged with the Punjab National Bank (PNB). Now everything from the customer to the branch of both the banks belong to PNB. Similarly, Allahabad Bank has been merged with Indian Bank.

Indian Bank customers IFSC Code ALERT! Erstwhile Allahabad Banks’s IFSC to be discontinued from 1 July - Do this to get your BRANCH CODE

Indian Bank customers IFSC Code ALERT! Erstwhile Allahabad Banks’s IFSC to be discontinued from 1 July - Do this to get your BRANCH CODE

Thu, Jun 17, 2021

If you are an Indian Bank customer, here is some important news for you. The state-run bank is informing this to its customers. The bank has been advertising and informing customers about the erstwhile Allahabad Bank IFSC code. The Indian Bank will discontinue the existing IFSC of the erstwhile Allahabad Bank from 1 July 2021

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Centre's state banks' bailout stumbles as losses mount, may crimp economic growth

Centre's state banks' bailout stumbles as losses mount, may crimp economic growth

Fri, May 25, 2018

When the government announced a surprise $32 billion bailout plan for the nation`s state-controlled banks last October, credit rating firms and the nation`s central bank saw it as a huge step to getting the industry back to robust health – and lending more to businesses and consumers.

After crackdown against Allahabad Bank, AIBOC warns RBI, Centre it will not remain silent spectator

After crackdown against Allahabad Bank, AIBOC warns RBI, Centre it will not remain silent spectator

Thu, May 17, 2018

Bank officers association have asked the Reserve Bank of India (RBI) and the government to treat both private sector and public sector banks with equality.

"Action against top bankers right, PNB MD should also keep away''

"Action against top bankers right, PNB MD should also keep away''

Tue, May 15, 2018

The central government`s action against three top bankers in the country is a welcome move, said a top leader of All India Bank Employees` Association (AIBEA) on Tuesday.

Shock for Allahabad Bank as RBI restricts lending, other activities after PCA action

Shock for Allahabad Bank as RBI restricts lending, other activities after PCA action

Mon, May 14, 2018

It needs to be noted that, Allahabad Bank share price tumbled nearly 5% in today's trading session.

Centre moves to oust bank officials as accused named in PNB fraud case

Centre moves to oust bank officials as accused named in PNB fraud case

Mon, May 14, 2018

Banking secretary Rajiv Kumar told media that a government nominee on the board of state-run Allahabad Bank would call a meeting to seek the removal of the lender`s chief executive Usha Ananthasubramanian, who previously headed fraud-hit Punjab National Bank (PNB)

Allahabad Bank raises lending rate by up to 10 bps

Allahabad Bank raises lending rate by up to 10 bps

Sat, Apr 28, 2018

As per Allahabad Bank's regulatory filing, it has raised MCLR (marginal cost of fund-based lending rate) by 5 basis points (bps) for the tenors up to two years, except six months tenor

Allahabad Bank has outstanding exposure of Rs 516.79 cr in Rotomac group

Allahabad Bank has outstanding exposure of Rs 516.79 cr in Rotomac group

Thu, Feb 22, 2018

The bank said the accounts of Rotomac Global and Rotomac Exports have been filed in National Company Law Tribunal

IT, PSU banks' stocks snap losing streak, prop up Sensex, Nifty

IT, PSU banks' stocks snap losing streak, prop up Sensex, Nifty

Wed, Feb 21, 2018

After three consecutive days of losses, the key Indian equity indices today closed up riding on broadly positive Asian markets and a surge in IT stocks.

Rotomac a wilful defaulter, recovery process underway

Rotomac a wilful defaulter, recovery process underway

Tue, Feb 20, 2018

Rotomac's Vikram Kothari had established a group company, Rave Entertainment, to set up a multiplex business in cities such as Meerut, Chandigarh, Panipat, Sonepat, Agra and Noida.

Sensex turns flat, Nifty trades below 10,400; PSU banks drag

Sensex turns flat, Nifty trades below 10,400; PSU banks drag

Tue, Feb 20, 2018

The benchmark indices turned flat after opening higher as gains in IT and metal stocks were offset by continued losses in public sector banks. Negative trend in Asian markets, which stalled their recovery post a slump in European equities also influenced the sentiment.

Sensex closes below 34,000, Nifty fails to hold 10,500

Sensex closes below 34,000, Nifty fails to hold 10,500

Mon, Feb 19, 2018

The Nifty PSU Bank index closed 2.38% down after falling as much as 6% during the day

Loan default: Shares of BoB, BOI among others banks fall over 6%

Loan default: Shares of BoB, BOI among others banks fall over 6%

Mon, Feb 19, 2018

Loan default case of Rotomac Global, promoted by Vikram Kothari, came close on the heels of the Rs 11,515-crore Punjab National Bank fraud by billionaire jeweller Nirav Modi

Defaulter Rotomac owner Kothari says he will not leave the country

Defaulter Rotomac owner Kothari says he will not leave the country

Mon, Feb 19, 2018

Kothari had taken a loan of more than Rs 800 crore from five state-owned banks

Now, Rotomac Pen's Rs 800 crore defaulter Vikram Kothari flees country

Now, Rotomac Pen's Rs 800 crore defaulter Vikram Kothari flees country

Sun, Feb 18, 2018

Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India compromised their rules to sanction loans to Rotomac, the sources said.

PNB Fraud: Officials of other banks under scanner

PNB Fraud: Officials of other banks under scanner

Sun, Feb 18, 2018

As investigations into the Rs 11,400 crore scam at PNB gather momentum, officials at overseas branches of other banks, where the fraudulently issued Letter of Undertakings (LoUs) were encashed, are under scanner, sources said.

Nirav Modi scam: Crisil puts PNB ratings on the watch

Nirav Modi scam: Crisil puts PNB ratings on the watch

Sun, Feb 18, 2018

Rating agency Crisil has put the scam-ridden Punjab National Bank's ratings on 'watch', following the Rs 11,400-crore fraud detected by the lender at one of its Mumbai branches.

How a jeweller 'designed' Rs 11,300 crore fraud?

How a jeweller 'designed' Rs 11,300 crore fraud?

Thu, Feb 15, 2018

By Anisha Nayar Dhawan Is this going to be the biggest fraud case in India's banking history? For now, it seems so. The fraud, involving state-owned Punjab National Bank (PNB), is estimated to include transactions to the tune of Rs 11,300 crore.

Sensex gains 100 points, Nifty holds above 10,500; PNB tanks 8%

Sensex gains 100 points, Nifty holds above 10,500; PNB tanks 8%

Thu, Feb 15, 2018

The domestic market opened higher on Thursday tracking positive trend in Asian markets after Wall Street brushed aside strong US inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a quicker pace of

FAST MONEY: 12 buy and sell trading ideas for Thursday's trade

FAST MONEY: 12 buy and sell trading ideas for Thursday's trade

Thu, Feb 15, 2018

The domestic market looks set to open higher thanks to a positive trend seen in Asian markets after the after Wall Street brushed aside strong U.S.

After SBI's 5 bps cut in MCLR; two more banks follow suit

After SBI's 5 bps cut in MCLR; two more banks follow suit

Tue, Oct 31, 2017

MCLR was introduced on from April 2016 with an aim to ensure that the banks pass on the benefits of RBI's rate cut to their customer in faster pace.

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