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.
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