large scale image
LCP Image

Back to TSCFM News

Indian bank merger with Allahabad Bank

February 16, 2021

Indian bank merger with Allahabad Bank

The Indian Bank, which has merged with the Allahabad Bank, done a software migration over the weekend. The consolidation cycle occurred between 9pm on February 12 to 9am on February 15 with the bank adding that administrations identified with banking tasks may be disrupted during this time span.

“Our bank has planned specialized migration of CBS/ITMS programming of recent Allahabad save money with CBS/ITMS programming of Indian Bank on 13-14 February 2021,” the Indian Bank had before expressed in an administrative recording.

As the merger got completed, new guidelines had been given by the bank regards to its services. Sharing the report on Twitter, existing clients were approached to get another Indian Financial System Code (IFSC) code and were likewise educated on different administrations, for example, net banking, portable banking among others.

The Indian Bank on January 22 announced an independent net benefit of ₹514 crore in the second from last quarter of the current financial, helped by an improvement in the resource quality, as indicated by news office PTI. The moneylender amalgamated with Allahabad Bank with impact from April 1, 2020.

Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp