Source: Reserve Bank of India
September 30, 2020
Exclusion of “Allahabad Bank” from the Second Schedule to the Reserve Bank of India Act, 1934 and cessation as banking company
We advise that “Allahabad Bank” has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from April 01, 2020 since it has ceased to carry on banking business with effect from April 01, 2020 vide Notification DOR.No.Ret.BC.54/12.01.001/2019-20 dated March 27, 2020, which is published in the Gazette of India (Part III – Section 4) dated September 26 – October 02, 2020.
(Sudhansu Mohan Parida)