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2020: - 1 April 2022, Indian Bank and Allahabad Bank merged. The oldest Joints Stock Bank in the country, Allahabad Bank, was founded on April 24 1865 by a group of Europeans at Allahabad, at a juncture when organized industries, trade and banking were taking shape in India. Thus, the history of the bank now spreads over three centuries.
Allahabad Bank was an Indian nationalised bank with its headquarters in Kolkata, India. [2] Founded in Allahabad in 1865 and nationalized by the government of India in 1969, the bank provided banking and financial services for 155 years until it was merged with Indian Bank in 2020. It was the oldest still running joint stock bank in India until ...
Rakesh Sethi (Hindi: राकेश सेठी) is the former Chairman and Managing Director of Allahabad Bank. Prior to this, Sethi was an executive director at Punjab National Bank. [3] He joined Allahabad Bank in March, 2014 and will serve until 2017. [4] [1] He was preceded by Shubalakshmi Panse.
This list of banks that have merged to form the State Bank of India includes financial institutions that were at one point or the other merged with the State Bank of India or any of its subsidiaries. This list includes the banks which have been subsidiaries or associates of the State Bank of India.
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India's commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, 6 PBs, 43 RRBs, and 2 LABs.
Immediate Payment Service is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network. In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank and HDFC Bank later ...
With an initial membership of 22 banks in India in 1946, IBA currently represents 247 banking companies operating in India. IBA was formed for the development, coordination, and strengthening of Indian banking and to assist the member banks in various ways, including the implementation of new systems and the adoption of standards among the members.
Prior to joining Bhartiya Mahila Bank, Ananthasubramanian worked at Punjab National Bank. She served as MD of Punjab National Bank between August 2015 and May 2017. Prior to that, she served as CEO of Allahabad Bank. [5] Ananthasubramanian was ranked the 19th Most Powerful Woman in business by Fortune India [6] First women CHAIRMAN of IBA