Allahabad Bank to get Rs 670 cr from govt

The government has decided to infuse Rs 670 crore in Allahabad Bank as against Rs 292 crore advised earlier. This will raise the government holding in the bank to 58 per cent from the current 55.23 per cent.

The infusion will be by way of preferential allotment to the government of India, said the bank in a filing to Bombay Stock Exchange.