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Bank mergers: Allahabad Bank branches are now Indian Bank branches

Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion

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File photo of Indian Bank's branch

2 min read Last Updated : Mar 31 2020 | 9:35 PM IST

All branches of Allahabad Bank will function as branches of Indian Bank following the amalgamation of the two lenders as per Reserve Bank of India (RBI)'s notification dated March 28, 2020. Effective April 1, Allahabad Bank will cease to exist in its present form and will be officially merged with Indian Bank.

Indian Bank's Managing Director and CEO Padmaja Chunduru said, “We warmly welcome the employees and customers of Allahabad Bank to the Indian Bank fold. We assure all that the bank would continue to deliver top-grade products and services to all its customers. We deeply value the rich legacy of

Topics : Bank mergers Allahabad Bank Indian Bank PSU bank merger Indian banking sector public sector banks

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