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 Allahabad Bank has amalgamated with which of the following bank?

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RRB Officer Scale-I Mains (English) (30 Jan 2021) Memory Based Test
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  1. Bank of Baroda
  2. State Bank of India
  3. Punjab National Bank
  4. Indian Bank
  5. DSB Bank

Answer (Detailed Solution Below)

Option 4 : Indian Bank
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Detailed Solution

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The correct answer is Indian Bank.

Key Points

  • Allahabad Bank is amalgamated with Indian Bank.
  • will function as branches of Indian Bank following the amalgamation of the two lenders as per Reserve Bank of India (RBI)
  • It is effective by April 1, Allahabad Bank will cease to exist in its present form and will be officially merged with Indian Bank. 
  • Indian bank with 113 years and Allahabad Bank with 155 years will create an institution with sound financial strength and nationwide connectivity consisting of 6,000-plus branches, 4,800-plus ATMs, 43,000-plus employees serving 120 million-plus customers and business mix of over Rs 8 trillion.
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