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 […]
UBI, Allahabad Bank to offer repo rate linked home loans
KOLKATA: Two city-based banks, United Bank of India (UBI) and Allahabad Bank, have decided to offer select loan products linked to repo rates to pass on the benefit of the RBI’s rate cut to their customers, bank officials said on Friday. UBI sources said the bank would offer housing and car loan products with repo […]
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 […]
India pumps Rs 3054 crore into Allahabad Bank
NEW DELHI: Public sector Allahabad Bank said the government had infused Rs 3,054 crore into the state-run lender. “In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the bank has received a communication from the Government of India, Ministry of Finance, Department of Financial Services regarding fresh […]