Board of Indian Bank approves merger with Allahabad Bank and Govt. capital infusion of Rs 5000 cr
At meeting held on 18 September 2019
The Board of Indian Bank at its meeting held on 18 September 2019 has considered and given its in-principle approval for the amalgamation of Allahabad Bank into Indian Bank subject to all necessary approvals. The Board also approved the Capital Infusion of upto Rs.5,000 crore (Rupees five thousand crore only) by Government of India through preferential allotment to Government of India subject to necessary regulatory approvals.Powered by Capital Market - Live News
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