Allahabad Bank

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Allahabad Bank - Total results - 123
RBI fines Allahabad Bank Rs 1.5 cr for not monitoring fund use, fraud reporting delay
Business

RBI fines Allahabad Bank Rs 1.5 cr for not monitoring fund use, fraud reporting delay

State-owned Allahabad Bank on Friday said the RBI has imposed a penalty of Rs 1.5 crore on the lender for not monitoring end use of funds, among other violations

Allahabad Bank Q3 net loss narrows to Rs 733 cr; gross non-performing assets rise to 17.81%
Business

Allahabad Bank Q3 net loss narrows to Rs 733 cr; gross non-performing assets rise to 17.81%

State-owned Allahabad Bank on Wednesday reported narrowed net loss at Rs 732.81 crore for third quarter ended December of the current financial year due to a reduction in bad loan provisions

RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth
Business

RBI lifts lending curbs on Bank of India, Bank of Maharashtra, Oriental Bank of Commerce; move to expand loan growth

Eight public sector banks—Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank, UCO Bank, Central Bank of India, Indian Overseas Bank and Dena Bank—still remain under PCA framework,

RBI governor Shaktikanta Das meets private sector bankers; discusses liquidity issues
Business

RBI governor Shaktikanta Das meets private sector bankers; discusses liquidity issues

At the past two meetings held between RBI and state- run banks, Das had deliberated on the prompt correction action framework.

RBI board meeting with new governor Shaktikanta Das gets under way; to discuss contentious issues
Business

RBI board meeting with new governor Shaktikanta Das gets under way; to discuss contentious issues

Unlike the last meet, which lasted for 10 hours, Friday's meeting is likely to get over by afternoon.

Govt mulls additional Rs 30,000 cr capital infusion in PSBs; several banks' NPA rises during two quarters
Business

Govt mulls additional Rs 30,000 cr capital infusion in PSBs; several banks' NPA rises during two quarters

Despite this relaxation, PSBs need more funds to meet global capital norms called Basel III as the RBI has retained the CRAR at 9 percent.

Narendra Modi govt appoints MDs, CEOs in 10 nationalised banks; five of them from SBI
Business

Narendra Modi govt appoints MDs, CEOs in 10 nationalised banks; five of them from SBI

Mrutyunjay Mahapatra and Padmaja Chundru, both deputy managing directors in State Bank of India (SBI), have been appointed as managing director and chief executive officer of Syndicate Bank and Indian Bank respectively,

PNB scam: CBI court grants bail to ex-MD Usha Ananthasubramanian in Rs 14,000 cr fraud case
Business

PNB scam: CBI court grants bail to ex-MD Usha Ananthasubramanian in Rs 14,000 cr fraud case

Three months ago, Usha Ananthasubramanian was divested of her powers as MD and CEO of the Allahabad Bank following the country’s biggest bank fraud allegedly carried out by diamond jeweller Nirav Modi and associates at the PNB.

Allahabad Bank posts Q1 net loss of Rs 1,944 cr as bad loan provisions soar; shares fall 5.62%
Business

Allahabad Bank posts Q1 net loss of Rs 1,944 cr as bad loan provisions soar; shares fall 5.62%

In value terms, Allahabad Bank's gross NPAs stood at Rs 25,067.55 crore by end-June 2018, up from Rs 21,032.42 crore in the year-ago period.

PNB scam: There’s more than meets the eye in Usha Ananthasubramanian’s last minute dismissal; but why only her?
Business

PNB scam: There’s more than meets the eye in Usha Ananthasubramanian’s last minute dismissal; but why only her?

For decades, several state-run banks operated like feudal institutions. But that's about to change.

PNB scam fallout: Govt dismisses former Allahabad Bank boss Usha Ananthasubramanian from service
Business

PNB scam fallout: Govt dismisses former Allahabad Bank boss Usha Ananthasubramanian from service

In May 2018, Usha Ananthasubramanian was divested of all her powers as MD of Allahabad Bank, after being named in a CBI chargesheet in the PNB fraud case.

PNB scam fallout: Former Allahabad Bank CMD Usha Ananthasubramanian could be sacked today, says report
Business

PNB scam fallout: Former Allahabad Bank CMD Usha Ananthasubramanian could be sacked today, says report

Former Allahabad Bank boss Usha Ananthasubramanian has been named in the Central Bureau of Investigation chargesheet in the Punjab National Bank (PNB) fraud case.

Government's plan to infuse Rs 11,336 cr in five public sector banks is credit positive, says Moody's
Business

Government's plan to infuse Rs 11,336 cr in five public sector banks is credit positive, says Moody's

The government will infuse Rs 2,816 crore in Punjab National Bank (PNB), Rs 1,790 crore in Allahabad Bank, Rs 2,019 crore in Andhra Bank, Rs 2,157 crore in Indian Overseas Bank and Rs 2,555 crore in Corporation Bank.

Punjab National Bank receives Rs 2,816 crore as part of government's capital infusion plan
Business

Punjab National Bank receives Rs 2,816 crore as part of government's capital infusion plan

The government has approved capital infusion in five public sector lenders, namely PNB, Allahabad Bank, Andhra Bank, Indian Overseas Bank and Corporation Bank.

Nirav Modi fraud: PNB, Allahabad Bank boards may decide on further action against executive directors, MD
Business

Nirav Modi fraud: PNB, Allahabad Bank boards may decide on further action against executive directors, MD

PNB Board is scheduled to meet next month to decide about the future course of action against its two executive directors KV Brahmaji Rao and Sanjiv Sharan

Bank Recapitalisation: Finance ministry approves infusion of Rs 11,336 crore in five public sector banks
Business

Bank Recapitalisation: Finance ministry approves infusion of Rs 11,336 crore in five public sector banks

Punjab National Bank (PNB), hit by Nirav Modi scam, will get the highest amount of Rs 2,816 crore, while Allahabad Bank to get Rs 1,790 cr, Andhra Bank Rs 2,019 cr, Indian Overseas Bank Rs 2,157 cr and Corporation Bank - Rs 2,555 cr

Rural finance: Network failure a recurring phenomenon at some bank branches in Bundelkhand
Business

Rural finance: Network failure a recurring phenomenon at some bank branches in Bundelkhand

Following network failure, access to wages, pensions, subsidies, and all other bank transactions are hampered, leaving in its wake a disgruntled population.

Thirty-four in fray for managing director post in PSBs; Banks Board Bureau to hold interviews from 28 June
Business

Thirty-four in fray for managing director post in PSBs; Banks Board Bureau to hold interviews from 28 June

The Banks Board Bureau (BBB), the advisory body formed by the government for selection of candidates for top level board appointment, will interview as many as 34 executive directors, deputy managing directors and other eligible senior officials.

Bad loans issue: Heads of 11 PSBs to appear before parliamentary committee tomorrow
Business

Bad loans issue: Heads of 11 PSBs to appear before parliamentary committee tomorrow

The rising number of bad loans and frauds has become a serious cause of concern.