The board of state-owned Allahabad Bank will meet on Wednesday to consider a draft scheme of amalgamation of its wholly-owned subsidiary AllBank Finance.
AllBank Finance (ABFL) is a leading merchant banker and has been holding licence for Debenture Trusteeship since February 2010.
"A meeting of Board of Directors is scheduled to be held on Wednesday, the 20th September, 2017, inter-alia, to consider Draft Scheme of amalgamation of... AllBank Finance Ltd with the bank," the state-owned lender said in a regulatory filing.
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