The Indian federal government has received Indian Rs 616.7 million in dividends
from the Allahabad Bank in Uttar Pradesh, of which it is the largest
In a press conference, Allahabad Bank chairman and managing
director KR Kamath and executive director KK Agrawal handed over
a check to representatives of the federal government.
Allahabad Bank’s net profit rose over three-fold in the last
quarter, rising to Rs 303 crore from the Rs 93 crore reported during the same period last year.
The final claim towards the government’s agricultural debt
relief scheme was Rs 1,014 crore, of which Rs 504 crore has been paid.