Allahabad Bank has received an approval for the raising of Tier 2 capital of the Bank by floating Basel III compliant Tier 2 Bonds aggregating up to Rs 1500 crore in one or more tranches during FY 2019-20. The Board of Directors of the Bank at its meeting held on December 07, 2019, approved the same.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.