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Allahabad Bank. 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.
2020: - April 1, 2022, Indian Bank and Allahabad Bank merged. The oldest Joints Stock Bank in the country, Allahabad Bank, was founded on April 24 18,5 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.
The Reserve Bank of India, India's central banking authority, was established in April 1935, but was nationalized on 1 January 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b). [31] In 1949, the Banking Regulation Act was enacted, which empowered the Reserve Bank of India (RBI) to regulate ...
Alma mater. Osmania University. 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.
The oldest bank in India is The Madras Bank (1843), followed by the Bank of Bengal, founded in 1806, which is then followed by the Bank of Hindustan, founded in 1770. The oldest bank still in operation is the State Bank of India, whose origins can be traced back to the Bank of Calcutta. It was founded in 1806, though the tenth to be founded. [1]
The Chartered Bank of India, Australia and China—a bank incorporated in London, was founded in 1853 in London by James Wilson; following the grant of a Royal Charter from Queen Victoria. A 2008 stamp dedicated to the 150th anniversary of the Standard Chartered Bank of India. In 1858, it opened its first branches in Calcutta, Bombay and Shanghai.
Website. aryavart-rrb .com. The Aryavart Bank ( AB) is an Indian Regional Rural Bank (RRB) in Uttar Pradesh established on 1 April 2019. [1] The bank was formed by the amalgamation of Gramin Bank of Aryavart and Allahabad UP Gramin Bank. It currently has 1365 branches and 22 regional offices [2] in rural areas of Uttar Pradesh, around Lucknow.
They are governed by the provisions of the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949 and other relevant statutes. They are to be registered as Public Limited Companies under the Companies Act 1956.