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State-owned Allahabad Bank said on Tuesday the government has increased its authorised capital by ₹ 5,000 crore to ₹ 8,000 crore.
The central government after consultation with the Reserve Bank of India has increased the authorised capital of the bank from ₹ 3,000 to ₹ 8,000 through Gazette Notification, Allahabad Bank said in a regulatory filing.
The increase in authorised capital will enable the bank to raise further fund up to a maximum ceiling of ₹ 8,000 crore.
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