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 bank has successfully completed process of technical migration of CBS/ITMS software of erstwhile Allahabad Bank with CBS/ITMS software of Indian Bank, it said in a regulatory filing.
The bank has successfully completed process of technical migration of CBS/ITMS software of erstwhile Allahabad Bank with CBS/ITMS software of Indian Bank, it said in a regulatory filing.
The bank shall take all possible efforts for non-occurrence of any such disruptions and strive for immediate redressal/rectification for the disruptions observed, if any, Indian Bank said in a regulatory filing.
The company’s liquidator had approached the Ahemadabad bench of the National Company Law Tribunal (NCLT) to declare certain transactions carried out by the former management of over Rs 46.53 crore as void for allegedly selling certain goods below market price.
During 2019-20, the government proposed to make Rs 70,000 crore capital infusion into the PSBs to boost credit for a strong impetus to the economy. However, the government refrained from committing any capital in the Budget 2020-21 for the PSBs, hoping that the lenders will raise funds from the market depending on the requirements
Indian Bank's total income rose to Rs 11,669.11 crore during September quarter this year from Rs 6,045.32 crore in the same period of the previous fiscal, it said in a regulatory filing.
The fund infusion would be for meeting regulatory capital requirements if the need arises in October-December quarter. In 2019-20, the government infused Rs 70,000 crore into PSBs to boost credit for a strong impetus to the economy.
The company said its loss ratio improved by 2.58% to 78% as compared with 80.58% in the year ago period, mainly due to improvements in health insurance, personal accident insurance, marine insurance and motor insurance loss ratio.
Indore-based Indison Agro Foods Ltd, which is facing insolvency resolution, has argued in its case that the law requires the bench to consist of two members, with both judicial and technical competence, to hear cases related to the Insolvency & Bankruptcy Code (IBC).
In an order, a three-member bench of the NCLAT said the date of default is computed from the date of declaration of account as a NPA (Non Performing Asset) and such date of default would not shift. It will be "impermissible to proceed with Section 7 application," filed by the bank which is after the limitation period of three years, the order said.
