Question

 Allahabad Bank has amalgamated with which of the following bank?
1. Bank of Baroda
2. State Bank of India
3. Punjab National Bank
4. Indian Bank
5. DSB Bank

Answer 1

Correct Answer - Option 4 : Indian Bank

The correct answer is Indian Bank.

• Allahabad Bank is amalgamated with Indian Bank.
• will function as branches of Indian Bank following the amalgamation of the two lenders as per Reserve Bank of India (RBI)
• It is effective by April 1, Allahabad Bank will cease to exist in its present form and will be officially merged with Indian Bank. 
• Indian bank with 113 years and Allahabad Bank with 155 years will create an institution with sound financial strength and nationwide connectivity consisting of 6,000-plus branches, 4,800-plus ATMs, 43,000-plus employees serving 120 million-plus customers and business mix of over Rs 8 trillion.