State-run, Allahabad Bank has cancelled all charges on National Electronic Fund Transfer (NEFT) up to Rs 1 lakh as a part of its green initiative. As per the revision, users can remit fund electronically from one branch to any bank-branch across the country without any charges within the said limit. The bank has also introduced a campaign ‘Speed-e-track’ to promote the awareness of e-services and to increase efficiency and reduce cost.
The bank has posted a rise of 55.36% in its net profit at Rs 400.22 crore for the quarter ended March 31, 2012 as compared to Rs 257.61 crore for the same quarter in the previous year. Total income has increased by 26.05% at Rs 4523.38 crore for quarter under review as compared Rs 3588.68 crore for the quarter ended March 31, 2011.
