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Govt to infuse Rs 3054 crore in Allahabad Bank

Govt to infuse Rs 3054 crore in Allahabad Bank

Allahabad Bank has received a communication from the Government of India, Ministry of Finance, Department of Financial Services regarding fresh capital infusion of Rs 3054 crore towards contribution of the Central Government in the preferential allotment of equity shares (Special Securities/Bonds) of the Bank during the financial year 2018-19, as Government’s investment.

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

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