Allahabad Bank announced that the Government of India (GOI), Ministry of Finance, Department of Financial Services vide Notification No. F. No. 16/13/2018-BO.I dated August 13, 2018 have notified that in exercise of the powers conferred under the provisions of sub-paragraph (4) of paragraph 8 of the Nationalized Banks (Management & Miscellaneous Provisions) Scheme, 1970, made by the Central Government in exercise of powers under Section 9 of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, the Central Government hereby removes Ms. Usha Ananthasubramanian, from the office of Managing Director & Chief Executive Officer of Allahabad Bank, with immediate effect.

Accordingly, Smt. Usha Ananthasubramanian has ceased to be the Managing Director & CEO of the Bank with effect from the date of aforesaid GOI notification.