Thursday, May 28 2020 | Time 21:48 Hrs(IST)
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  • About 84 pc of Corona positives in last 25 days in Bihar are migrants
  • DJB office sealed after 3 employees test positive for Covid 19
  • Domestic flight service resumes in Arunachal Pradesh
  • With 9 more Corona positive, Nagaland records 18 active Corona
  • Police file 47 charge sheets against 910 foreign Jamatees in Markaz case
  • ICC defers fate of T20 World Cup till June 10 over confidentiality issue
  • ICC defers fate of T20 World Cup till June 10 over confidentiality issue
  • TN reports 827 new COVID-19 positive cases, 12 deaths on a single day
  • Real Estate Tribunal in Assam can take up cases related to Meghalaya
  • Jakhar’s social media campaign attempt to divert attention from liquor scam: Chugh
  • Haryana records one more death, 123 fresh Covid-19 cases
  • India reports over 6k cases for seventh day in row, SC makes migrants fare free
  • Migrants wanting to return to UP need to hurry up: Yogi
Business Economy


Indian Bank board approves Allahabad Bank merger

Chennai, Sep 18 (UNI) The Board meeting of the public sector
on Wednesday gave its in principle approval for the merger of
Allahabad Bank with it.
The Board meeting was held in New Delhi today, a bank release
here said.
''The board meeting of Indian Bank was convened today at New
Delhi, inter alia to discuss amalgamation of Allahabad Bank into
Indian Bank. The Board after deliberations conveyed its in principle
approval for the Amalgamation of Allahabad Bank with Indian Bank'',
it said.
The Board also took on record the proposed infusion of capital
by the Union Government up to Rs 5,000 crore in the bank and
issue of shares in favour of the government by way of Preferential
Issue.
Post Amalgamation, the combined entity will have 6100-plus
branches across the country and overseas presence in three
countries.
The business after amalgamation will be over Rs eight lakh
crore contributed by a strong workforce of more than 40,000
staff.
The renowned Chennai based midsized bank, hitherto having a
strong presence in southern states and Maharashtra, expects
to spread its wings across central and eastern parts of India,
where Allahabad Bank has got a strong presence, the release
said.
UNI GV 1910
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28 May 2020 | 9:09 PM

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Firmenich Successfully Completes Acquisition of DRT

28 May 2020 | 9:09 PM

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CGI Supports Karnataka Government in Strengthening Their Pandemic-related Efforts

28 May 2020 | 9:09 PM

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Assam invites investment from US-India Business Council

28 May 2020 | 8:53 PM

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Court Order Against Senior Preventing Importation of Battery Separators Into the United Kingdom is Extended

28 May 2020 | 8:38 PM

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