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Allahabad Bank receives govt’s approval for amalgamation

20 Nov 2019 Evaluate

Allahabad Bank has now received a communication from the Government of India, Ministry of Finance, Department of Financial Services communicating that the Alternate Mechanism (AM) has accorded in-principle approval to proposed amalgamation of Allahabad Bank into Indian Bank with Indian Bank as the transferee Bank and Allahabad Bank as transferor Bank.

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

Peers
Company Name CMP
State Bank Of India 985.60
PNB 117.70
Bank Of Baroda 234.40
Canara Bank 124.70
Union Bank Of India 177.90
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