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Allahabad Bank to get government investment of Rs 3,054cr

Friday, November 9, 2018, 2:27 PM

In a stock exchange filing, the lender said, "..the bank has received a communication from the government of India, ministry of finance, department of financial services, regarding a fresh capital infusion of Rs 3,054 crore towards contribution of the central government in the preferential allotment of equity shares (special securities/bonds) of the bank during the financiai year 2018-19, as government's investment."
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Allahabad Bank MD & CEO sacked on last day in office

Tuesday, August 14, 2018, 2:53 PM

Allahabad Bank's MD and CEO Usha Ananthasubramanian was fired on her last day in office on Tuesday, in relation to the PNB scam. She had served as the CEO and Managing Director of PNB from 2015 to 2017, and was named in the CBI chargesheet. Before that, she had also served as PNB's Executive Director from 2011 to 2013.
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Banks to decide fate of officials accused in PNB scam

Sunday, July 22, 2018, 8:33 PM

Punjab National Bank and Allahabad Bank may take a call next month on further action to be taken against two executive directors and the MD charge-sheet in the Rs.14,000 crore Nirav Modi fraud case, sources said. Soon after CBI filed charge sheet in May pointed involvement of top officials of banks, PNB's board decided to divest two executive directors of all powers.

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