The Indian Financial System Code (or IFSC) is an 11-digit alpha-numeric code assigned by the Reserve Bank of India to identify every bank branch participating in the payment system uniquely. This code is used by electronic payment system applications such as RTGS, and NEFT. It is mandatory for fund transfers from one bank account to another. Every bank branch will have a unique code and no two branches (even of the same bank) will ever be the same.
In Allahabad Bank's 11-digit
IFSC code, the first four letters will be 'ALLA', and the last 6 digits will represent a specific branch code. For example, the
IFSC code of the
Allahabad Bank branch on Rajlok, 24 Nehru Place, New Delhi 110019, is ALLA0210615. Here, 210615 is the branch code.
According to the bank's annual report for the financial year 2016-17, the bank had a total of 1,214 ATMs as on March 31, 2017 and 3,246 branches.
"The company has already secured required total debt from a consortium of banks led by State Bank of India," Patanjali Ayurved Managing Director Acharya Balkrishna said in a statement. Patanjali also said it has got loans of Rs 1,200 crore from SBI, Rs 700 crore from Punjab National Bank, Rs 600 crore from Union Bank of India.
Special public prosecutor for ED, Advocate Nitesh Rana told the Court that the agency has attached only Rs 4,000 crores of Bhushan Steel so far and that the scandal involves over Rs 43,000 crores which the agency is still investigating. ED had arrested Singal in connection with an ongoing money laundering probe against him on Friday.
“BPSL had devised a peculiar modus operandi to siphon funds obtained as loans from various banks/financial institutions,” the ED said. “Singals did not use the bank funds for the purpose for which the same were sanctioned, committed forgery and falsified accounts, causing wrongful loss to the lending banks.”
Refuting reports that Patanjali Ayurved was finding it tough to raise fresh loans of Rs 4,000 crore following a downgrade by a ratings agency, Patanjali Ayurved chief executive Acharya Balkrishna said the downgrade by CARE was based on factors which had no relation to corporate guarantee not being offered by Patanjali.
