Centre raises Allahabad Bank’s authorised capital to Rs 8,000 crore

70

Public sector lender Allahabad Bank said that the centre has raised its authorised capital by Rs 5,000 crore to Rs 8,000 crore.

Post it’s consultation with the Reserve Bank of India (RBI), the central government has increased the authorised capital of the bank from Rs 3,000 to Rs 8,000 through Gazette Notification, said Allahabad Bank in a regulatory filing.

This inflation in authorised capital will enable the bank to further raise fund up to a maximum ceiling of Rs 8,000 crore.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 7th NBFC100 Tech Summit, Chennai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.