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Allahabad Bank IFSC Code and MICR Code:

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Allahabad Bank IFSC Code

About Allahabad Bank

Allahabad Bank is a popular and leading nationalised bank in India. Its headquarter is located in Kolkata, in the state of West Bengal, in India. It is to be remembered that group of Europeans at Allahabad founded on 24 April 1865, Allahabad Bank. It had branches at Bareilly, Nainital, Jhansi, Lucknow, Kanpur, Calcutta, and Delhi by the end of the 19th century. It is the oldest joint stock bank in India. This bank proudly entered into its hundred fiftieth year of establishment on 24 April 2014. It is to be highly noted that it was founded in Allahabad in 1865. According to the official report released in 2015, this bank had approximately 3838 branches across India. On the other hand, this bank has and a representative office in Shenzen and a branch in Hong Kong. It offers services in the field of Finance and insurance, consumer banking and corporate banking.


Features of Allahabad Bank

• Under Personal Banking, customers are offered with deposit products, other credit products, account portability and all Ayushman Bima Yojana.
• Under Social Banking, customers are provided with Financial Inclusion and Credit Facilities to Minority Communities.
• Under Retail Credit Products, customers are offered with Housing & Furnishing Loan, Dream Car Loan, Commercial Vehicle Finance Scheme, Trade Loan, Property Loan, Rent Loan, Home Appliances Finance Scheme, Education Loan, Gyan Dipika Scheme, Saral Loan, Mobike Loan, Personal Loan to Pensioners, Personal Loan to Doctors, OD facility in Savings Bank Account, Loan Against NSC/KVP, Gold Loan, Reverse Mortgage Scheme and many more.
• Under the Corporate Banking, customers are provided with Corporate Credit, Cash Management Services, Gold Card Scheme for Exporters and other services.


Allahabad Bank IFSC Code and MICR code

It is to be noted that for all significant online transactions through NEFT, MICR and RTGS transactions, an IFSC code is very important


• IFSC means Indian Financial System Code, which is an 11 digit combination of alphabets and numerals that is actually issued by the RBI to all banks in order to identify the individual branch.
• NEFT means National Electronic Fund Transfer for immediate transaction.
• RTGS means Real Time Gross Settlement transfers between banks in real time basis within the specified time frame.
• On the other hand, MICR means Magnetic Ink Character Recognition that is mainly used in all banking sectors in order to facilitate cheque processing.


In online processing, all these are significant codes that are largely used, that, in turn, fasten online transaction. It is to be remembered that Allahabad bank IFSC code is an 11 digit alphanumeric characters that commences with the bank name, then a zero immediately followed by the branch code. It is to be noted that all IFSC code of Allahabad bank begins with ALLA0******.


How to Search IFSC and MICR code of Allahabad Bank?

• It is important to keep in mind that for a hassle free transaction, you have to find Allahabad Bank IFSC code and MICR code as per the requirement while dealing with online transactions and other banking activities.
• You can select table that indicates details of the desired bank, the state where it is located, district where it is situated and then its related branch code, IFSC and MICR codes with press button.
• The derived details and other information which appears can be used for your online business or transactional activities.


Other Popular Banks IFSC Code

Allahabad Bank IFSC Code News:

Allahabad Bank comes up with Rs 564.96 crore loss


The Allahabad Bank is also the one to suffer from its gross and net non-performing assets. It comes with a Rs.564.96 crore net loss in June 2016 as against Rs.146.86 net profit, as registered in the June 2015. The profit of the bank has seen a serious decline in its profit in the 1st half of the current fiscal declined to Rs.967.44 crore which is in stark contrast with Rs.1,241.50 in the bygone year. The Bloomberg Poll has indicated the bank is going to register a net loss of Rs.15.27 in the Q1, which ended in the month of June. The net interest income has also seen a declination with Rs.1,393.2 crore in this year in compared to Rs.1,587.11 crore in the last year in the same period and time. On the other hand, the gross NPA has also been sharing its responsibility to the declination of the bank’s profit. The gross NPA rises to Rs.19,208.62 crore from  Rs.7,987.44 crore in the last year in the same time and period. To see it on the basis of the percentage front, the gross NPA stood at 12.33% in this year of the total loan as sanctioned by the bank, with a huge difference of 5.29% in the same quarter of the previous year. The net NPA rises to 8.69% as it was in previous year 3.67%. On BSE, the shares of the bank ended at Rs.75.60 which is a 3.3% as compared with the last day.

2016/08/16 10:51 PM

Buy the target at the rate of RS 88 of Allahabad Bank


With a target price of Rs 88.00 Allahabad Bank now has a Buy call by Siddarth Bhamre of ET. The Allahabad Bank’s current market price is 77.80. Allahabad Bank price can reach defined target within time period of Intra Day given by analyst. It is recommended to keep stop loss at Rs 72.0 by Siddarth Bhamre.

2016/08/08 08:24 AM

Buy Allahabad Bank at a target of Rs. 85


Manav Chopra from Monarch Networth Capital says there is a buy call on Allahabad Bank . Option investors use buying an equity call as a simple and popular strategy. While the investor has to put less capital at risk this way he also gets an opportunity to profit from an upward move in the price of the underlying stock.

  • The present market price of Allahabad Bank is Rs 78.85.
  • The Allahabad bank can reach its defined target within a day.
  • The recommended stop loss according to Manav Chopra is Rs . 77

2016/07/26 11:01 PM

Loot at gunpoint


Yesterday there was an incident of three bike ridden criminals snatching money( Rs 10 lakh ) from a bank manager in Kathitand locality. Mr.Brahmanand Pandey who is a manager with the Allahabad bank branch in Umedanda was taking the money to his car when he was asked by gun slinging men to give them the money.

The police complaint has been filed and the police are on the look out for the criminals. The police is taking the help of CCTV cameras in order to trace the robbers. It has been established that the manager was being followed for a long time.

In another incident there was a similar robbery that took place when a manager of a non banking finance company was moving the cash ,Rs. 29 lakhs, to a new location. There was no security with him when he was transferring the money.

Although there is security staff available with the Ranchi police to help bank staff transfer money in bulk no security was available with the banker in the second scenario.

2016/07/20 06:33 AM

Loot at gunpoint


Yesterday there was an incident of three bike ridden criminals snatching money( Rs 10 lakh ) from a bank manager in Kathitand locality. Mr.Brahmanand Pandey who is a manager with the Allahabad bank branch in Umedanda was taking the money to his car when he was asked by gun slinging men to give them the money.

The police complaint has been filed and the police are on the look out for the criminals. The police is taking the help of CCTV cameras in order to trace the robbers. It has been established that the manager was being followed for a long time.

In another incident there was a similar robbery that took place when a manager of a non banking finance company was moving the cash ,Rs. 29 lakhs, to a new location. There was no security with him when he was transferring the money.

Although there is security staff available with the Ranchi police to help bank staff transfer money in bulk no security was available with the banker in the second scenario.

2016/07/20 06:33 AM

Allahabad Bank will focus on retail credit


The Allahabad bank  Chairman and Managing Director said the plans of the bank in its annual report for 2015-16  to provide thrust to loans like housing, gold  among others which have the requirements for less capital . The bank is also aiming at a growth of 20 % in its retail credit portfolio. In the retail credit portfolio the bank is seeking to get  20% growth.

The bank plans to approach with a three-pronged technique including the overdues recovery, secondly a healthy growth of advances in retail and finally mobilizing the Current And Savings Account(CASA) deposits  on the side of liability on the savings accounts.

According to the report the share of retail credit portfolio is increased to 16.42 % from 14.49 % in 2014-2015 in the last financial year.The retail credit portfolio is compared with the gross credit.

Sethi said capacity additions and govt. initiatives are likely to give boost to the mining and electricity sectors  while at the same time progress in utilization and demand in both rural and urban areas. According to this assumptions the chairman expected the growth with huge profits.

What will further bolster urban demand is the awards of the 7th pay commission in FY 2017. As far as rural demands are concerned what will help is the monsoon after successive two years of drought.

The loss incurred Rs 743.31 Cr was posted by the city headquartered bank in the last financial .There was an increased by 27.05 percent during the financial year.

The bi monthly policy announced in the year 2016-17 by the RBI. It introduced a scope to look after the current liquidity situation in the system of banking apart from that it is decreasing the repo rate to 6.50 % from 6.75 %.

2016/06/30 09:52 AM

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