Indian Bank expecting to complete merger with Allahabad Bank by end of FY20

04 Sep 2019

Indian Bank is expecting to complete the merger with Allahabad Bank by the end of current fiscal. The Bank had received a communication from Ministry of Finance that the Alternative Mechanism after consultation with Reserve Bank of India has cleared a proposal for the merger.

The merger of Indian Bank and Allahabad Bank will create a robust entity with a pan-India presence.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

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