Allahabad Bank

Allahabad Bank News

Allahabad Bank reports Rs 1,775 crore fraud by Bhushan Power & Steel

PNB recently reported a fraud worth Rs 3,805.15 crore by BPSL by misappropriating bank funds. Around 85 per cent of PNB’s Rs 4,399-crore exposure to the company had been siphoned off.

Allahabad Bank reports Rs 1,775 crore fraud by Bhushan Power and Steel

Allahabad Bank in a regulatory filing said on the basis of forensic audit investigation findings and CBI filing FIR against the company and its directors.

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Allahabad Bank Q4 net loss widens to Rs 3,834 cr

The Kolkata-headquartered lender, which came out of the prompt corrective action (PCA) framework of the Reserve Bank of India in February, had reported a net loss of Rs 732.81 crore for the third quarter of the last fiscal.

Allahabad Bank to cut MCLR by 10 basis points

Allahabad Bank on Wednesday said it will cut marginal cost of funds-based lending rates (MCLR) by 10 basis points for all the tenures up to three years with effect from March 1.

Centre to infuse Rs 3,054 crore into Allahabad Bank as investment

Notably, the Reserve Bank of India had imposed additional restrictions on the bank under the Prompt Corrective Action framework in May this year.

Allahabad Bank reports Rs 1,944-crore net loss in Q1

The Kolkata-headquartered bank, however, has pruned the losses substantially on a quarter-on-quarter basis. Its net loss for the fourth quarter last fiscal had stood at Rs 3,509.63 crore.

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PNB Scam: Government dismisses bank MD from service

The move comes three months after the board of Allahabad Bank divested her of all her powers, following a directive from the finance ministry.

Allahabad, Dena Banks’ corporate borrowers told to find new lenders

The Reserve Bank of India banned Dena Bank from advancing any fresh loans while Allahabad Bank has been asked to restrict expansion of risk weighted assets and reduction in exposure to unrated and high risk advances.

Allahabad Bank board divests CEO Usha Ananthasubramanian of executive powers

Shares of Allahabad Bank tanked 8.6 per cent on the BSE on Tuesday (even though the Sensex remained flat), extending a 3.2 per cent drop on Monday when the government cracked the whip.

RBI asks Allahabad Bank to lend less

Allahabad Bank was placed under the RBI’s prompt corrective action (PCA) scheme in January. The lender reported a net loss of Rs 3,510 crore in the March quarter of 2017-18.

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