Update on proposed amalgamation of Allahabad Bank into Indian Bank

Indian Bank announced that the Government of India, Ministry of Finance, Department of Financial Services on 13 November 2019 (communication received on 16 November 2019) 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.

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