Allahabad Bank Gets Nod For ABFL Merger

Posted on:24 Mar 2018 09:00:01
Allahabad Bank Gets Nod For ABFL Merger
24 March 2018 Current Affairs: According to the officials of Allahabad Bank, the Ministry of Corporate Affairs has allowed the amalgamation of its wholly own subsidiary - All Bank Finance Ltd (ABFL)-with the lender. 
The bank's board had approved the proposed merger in December 2016.
The ABFL offers a basket of fee-based financial services such as trusteeship services, investment advisory and portfolio management services, distribution of Mutual Funds schemes and other corporate services including valuation of security and so on.
According to the officials of Allahabad Bank, the Ministry of Corporate Affairs has allowed the amalgamation of its wholly own subsidiary - All Bank Finance Ltd (ABFL)-with the lender. 
The bank's board had approved the proposed merger in December 2016.
The ABFL offers a basket of fee-based financial services such as trusteeship services, investment advisory and portfolio management services, distribution of Mutual Funds schemes and other corporate services including valuation of security and so on.

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