The board of Allahabad Bank on Monday approved the merger proposal with Indian Bank, making the amalgamated entity the seventh largest public sector lender of the country.
Finance Minister Nirmala Sitharaman had on August 30 announced the consolidation of 10 state-run banks into four large-scale lenders.
"In terms of SEBI (listing obligations and disclosure requirements), the board of directors in a meeting held today has considered and accorded its in-principle approval for amalgamation of Allahabad Bank into Indian Bank," the Kolkata-based lender said in a statement.
Meanwhile, employees and officers of Allahabad Bank staged a demonstration in front of its headquarters here to protest against the merger.
A office-bearer of the staff association said the amalgamation is being opposed as Allahabad Bank has higher levels of CASA (current account and savings account), more staff strength and a bigger volume of business compared to the other lender.
"The merger proposal with Indian Bank is illegal," he claimed.
Kartarpur corridor will be opened for Sikh pilgrims from November 9, Pakistan has said
The Delhi Police on Monday arrested a man, Shamsher Singh alias Billu Barber, in connection with a case where a 32-year-old man was arrested at Indira Gandhi International Airport for impersonating an 81-year-old man in an attempt to fly to US.
According to police, Shamsher Singh runs a salon in Rohini. He had similarly changed the appearance of 10-12 people and used to charge Rs 20,000 for the make-up.
Six robbers decamped with Rs 19.72 lakh from a bank in Udaipur. The incident was reported on Monday. District police chief Kailash Bishnoi that faces of all the six criminals are visible in the CCTV footage and that identification is being done.
There were no guards at the bank when the loot happened as it is a small branch.
The Supreme Court Monday said it will hear on September 23 the plea of senior Congress leader Ahmed Patel seeking stay on further proceedings in the Gujarat High Court on his 2017 election to the Rajya Sabha that has been challenged by rival BJP candidate Balwantsinh Rajput.
A Bench of Chief Justice Ranjan Gogoi and Justices S A Bobde and S A Nazeer agreed to hear the plea after senior advocate Abhishekh Manu Singhvi, appearing for Patel, submitted that the matter is scheduled for hearing in the high court on September 27.
World Uyghur Congress president Dolkun Isa has slammed Pakistan government and Prime Minister Imran Khan for the country's "double standard" in raising human rights issues.
He said that PM Imran Khan has been raising the Kashmir issue but when it comes to the Uyghurs issue, he seems to support China's repression.
"It's a shame," Isa said in Geneva.
“Mr Minister, It's because of the talent and capabilities of Indian youth that the country today is counted among the leading countries of the world. Yes, your government certainly has not only discredited this talent but also insulted the youth power with such frivolous comments,” tweeted Congress
An Afghan official says five civilians have died when their vehicle struck a roadside bomb in western Farah province.
Mohibullah Mohib, spokesman for the provincial police chief, says the casualties include women and children. He says the bombing took place on Sunday afternoon near the city of Farah, the provincial capital.
“Mr Minister, you have mentioned such a big thing, then please provide data also. How many jobs you have created in 5 years and 100 days? How many north Indians were given jobs by the government? How many jobs were created under the Skill India scheme? Yes, do remember people have the figures and data of jobs taken away,” tweeted Priyanka Gandhi
Supreme Court issues notice in plea by Ghulam Nabi Azad seeking permission to enter the State, interact with people. Passes order allowing him to visit four districts on undertaking by him that he does not indulge in political activities.
Supreme Court directs Govt to ensure that normalcy is restored in the State.
This restoration shall be on selective basis keeping in mind national interests says Supreme Court.
The Supreme Court on Monday allowed CPI(M) leader Mohd Yusuf Tarigami to go back to his home state Jammu and Kashmir.
A bench of Chief Justice Ranjan Gogoi and justices S A Bobde and S A Nazeer said the former MLA does not need any permission to go home if doctors at AIIMS allow him.
A high-level meeting is underway at Ministry of Home Affairs. Home Minister Amit Shah, National Security Advisor (NSA) Ajit Doval, Home Secretary AK Bhalla and Intelligence officials present in the Meeting
12 shops gutted in fire at Junction market in Siliguri, West Bengal, early morning today; no casualties reported
Pakistani Army violated ceasefire by resorting to mortar shelling on forward posts and villages along the Line of Control (LoC) in Jammu and Kashmir's Poonch district, officials said on Monday.
Rescue operations resumed at 5:45 am today with two helicopters and 8 boats. Gates of Dowleswaram barrage closed down & search is underway there as well. 11 people have been reported dead in the incident.
With England winning the fifth and final Ashes Test at the Oval, the series ended at a 2-2 scoreline, the first time in 47 years that the Men's Ashes has ended in a draw.
Oil prices surged more than 10 per cent Monday after attacks on two Saudi Arabian plants that slashed output in the world's top producer by half, with Donald Trump blaming Iran and raising the possibility of a military strike on the country.