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Govt pumps Rs 3054 cr into Allahabad Bank

Allahabad Bank on Thursday said that the government had infused Rs 3,054 crore into the state-run lender. The government will infuse fresh capital towards contribution of the central government in the preferential allotment of equity shares (special securities/bonds) of the bank during financial year 2018-19. The bank had posted a June-quarter loss of Rs 1,944 crore against a profit of Rs 28.8 crore a year ago. 

Read More at Livemint News date : 9 Nov 2018, Friday

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