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Indian Bank receives approval of Alternative Mechanism for amalgamation

Government of India, Ministry of Finance, Department of Financial Services has advised that the Alternative Mechanism (AM) has accorded its in-principle approval to the proposed amalgamation of Allahabad Bank into Indian Bank with Indian Bank as the transferee bank and Allahabad Bank as transferor bank.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

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