Wednesday , October 20 2021

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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