Tag: Allahabad Bank

Allahabad Bank cuts MCLR by 5 basis points across tenors

NEW DELHI: State-owned Allahabad Bank has reduced the marginal cost of funds-based lending rate (MCLR) by 5 basis points, with effect from Monday. The bank’s asset-liability management committee has reviewed the existing MCLRs and decided for a downward revision of MCLRs by 5 bps across different tenors, it said in a regulatory filing. The benchmark […]

Allahabad Bank reports Rs 1,774 crore fraud by Bhushan Power and Steel

NEW DELHI: After Punjab National Bank (PNB), another state-owned lender Allahabad Bank Saturday reported a fraud of over Rs  1,774 crore by Bhushan Power and Steel to the Reserve Bank of India. In a regulatory filing, Allahabad Bank said on the basis of the findings of the forensic audit investigation and the CBI’s FIR against […]

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