Allahabad Bank board approves merger with Indian Bank: 18.9.2019

इलाहाबाद बैंक बोर्ड ने इंडियन बैंक के साथ विलय को मंजूरी दी

Points to Remember:

  • The board of Allahabad Bank approved the merger proposal with Indian Bank, making the amalgamated entity the seventh largest public sector lender of the country.
  • Finance Minister Nirmala Sitharaman had on August 30 announced the consolidation of 10 state-run banks into four large- scale lenders.

About Allahabad Bank:

  • Founded: 24 April 1865
  • Headquarters: Kolkata, India
  • MD & CEO: S. S. Mallikarjuna Rao

About Indian Bank:

  • Founded: 15 August 1907
  • Headquarters: Chennai, India
  • MD & CEO: Ms. Padmaja Chunduru
Important Possible questions based on above News:
  1. Which two banks will be merged into a sole entity to form the seventh largest public sector lender of the country? Allahabad Bank & Indian Bank
  2. Who is the current MD & CEO of Allahabad Bank? S. S. Mallikarjuna Rao
  3. Who is the current MD & CEO of Indian Bank? Padmaja Chunduru

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