23 March 2018

Allahabad Bank Gets Nod for ABFL Merger

Allahabad Bank Gets Nod for ABFL Merger

According to the officials of Allahabad Bank, the Ministry of Corporate Affairs has allowed the amalgamation of its wholly own subsidiary - All Bank Finance Ltd (ABFL)-with the lender.

The bank's board had approved the proposed merger in December 2016. The ABFL offers a basket of fee-based financial services such as trusteeship services, investment advisory and portfolio management services, distribution of Mutual Funds schemes and other corporate services including valuation of security and so on.

Source- DD News

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Allahabad Bank MD & CEO- Usha Ananthasubramanian, Headquarters- Kolkata.

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