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Tag: Allahabad Bank

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Scamster Held For Swindling Rs 1.34 Cr From Minority Affairs Ministry

Jammu:  The J&K Police Crime Branch on Wednesday arrested a West Bengal resident on charge of swindling Rs 1.34 crore from the Ministry of Minority Affairs. “A team headed by a Deputy Superintendent of Police proceeded to West Bengal and arrested accused Selim Sekh of Tinsatabighi Berabad village in Malda district, who was wanted in […]

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Allahabad Bank, UCO Bank, IOB Get Rs 8,655 Cr Fund Infusion

New Delhi: Three loss-making PSU Banks — Allahabad Bank, Indian Overseas Bank and UCO Bank – have got Rs 8,655 crore fresh capital infusion from the government. The Finance Ministry has approved infusing fresh capital amounting to Rs 2,153 crore in the Allahabad Bank, Rs 2,142 crore in the UCO Bank and Rs 4,360 crore […]

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Mamata writes to Modi, opposes merger of banks

Kolkata: Urging the Centre not to ‘deprive’ her state, West Bengal Chief Minister Mamata Banerjee has written to Prime Minister Narendra Modi opposing the decision to merge two Kolkata headquartered public sector banks with those with head offices in Delhi and Chennai, respectively, without consulting her government. Banerjee called for a rethink of the “sudden […]

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Big Bang bank merger : Odisha may see closure of nearly 300 ATMs!

Bhubaneswar: The big bang consolidation of banks in public sector announced by Finance Minister N Sitharaman on Friday is likely to see shut down of nearly 300 ATMs in the State. “The immediate goal of the mega merger of banks is to rationalise the operations and boost the capital base. Since one in two ATMs […]

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Bhushan Power fraud: Allahabad Bank down 11%

Mumbai: In reaction to the Rs 1,774.82 crore Bhushan Power & Steel Ltd (BPSL) fraud that Allahabad Bank reported in the weekend, its scrips fell by over 11 per cent during the early trade on Monday. At 9.22 a.m., the state-run Allahabad Bank was trading 11.24 per cent lower at Rs 41.85 on the BSE. […]

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Allahabad Bank defrauded of Rs 17,775 crore by Bhushan Power & Steel

Mumbai: After Punjab National Bank, Allahabad Bank on Saturday said that it has been defrauded by Bhushan Power & Steel Ltd (BPSL) to the tune of Rs 1,774.82 crore. The bank said in a regulatory filing that “on the basis of forensic audit investigation findings and CBI filing FIR, on suo moto basis, against the […]

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Khurda businessman arrested for Rs 1.5 crore-loan fraud

Bhubaneswar: The Economic Offences Wing (EOW) of the Odisha Crime Branch has arrested a businessman from Khurda for allegedly submitting fake mortgage documents and subsequently misappropriating a loan from Allahabad Bank in Bhubaneswar. The arrested businessman has been identified as Devraj Subudhi of Khurda. As per reports, the accused Devraj Subudhi along with Narayan Senapati, […]

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RBI penalises Allahabad Bank, Corporation Bank

Mumbai: The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders Allahabad Bank and Corporation Bank over deficiencies in complying with various regulatory norms. In a regulatory filing to the BSE on Friday, the Allahabad Bank said that the RBI has imposed a penalty of Rs 1.5 crore “for not monitoring the […]

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Allahabad Bank narrows losses to Rs 732.81 crore in Quarter 3

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

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Allahabad Bank narrows losses to Rs 732.81 crore in Quarter 3

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

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IBPS Recruitment 2019-20: Notification out for 4102 Probationary posts; Get Details Here

Institute of Banking Personnel Selection (IBPS) has released a recruitment notification for the positions of Probationary Officer/ Management Trainee under IBPS recruitment 2019-20. Interested and eligible candidates can apply for the positions from August 14, 2018 while the deadline to submit application form is September 4, 2018. Selection Process: The examination will be two tier […]

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PNB fraud: MoF initiates action against Allahabad Bank CEO

New Delhi: The Finance Ministry on Monday began the process to remove Allahabad Bank CEO and MD Usha Ananthasubramanian from the post after the CBI filed a chargesheet on her alleged role in the over Rs 13,000-crore PNB scam earlier in the day. Ananthasubramanian, who was the Managing Director and Chief Executive Officer of the […]