Allahabad Bank to merge with Indian Bank

03 Sep 2019

Indian Bank has received a communication from Ministry of Finance, Government of India stating that the Alternative Mechanism (AM) after consultation with Reserve Bank of India has decided that Indian Bank and Allahabad Bank may consider amalgamation of the Allahabad Bank into Indian Bank. Accordingly, a meeting of Board of Directors to consider the amalgamation will be convened by the Bank in due course.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

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