intro of allahabad bank

8/7/2019 intro of allahabad bank

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Allahabad Bank is the oldest public sector bank in India with branches all over India. AllahabadBank India was established in the year 1865. Apart from serving to domestic customers,Allahabad Bank NRI section also provides a wide range of attractive Deposti Schemes to Non-Resident Indians.

Allahabad Bank of India practices code on Lender's Liability. They are as follows:

To provide professional, efficient, courteous, diligent and speedy services in the matter of retail lending.

Not to discriminate on the basis of religion, caste, sex, descent or any of them.

To be fair and honest in advertising and marketing of Loan Products.

To provide customers with accurate and timely disclosure of terms, costs, rights andliabilities as regards loan transactions.

If sought, to provide such assistance or advise to customers applying for loans.

To attempt in good faith to resolve any disputes or differences with customers throughcomplaint redressal cells within the organization.

To comply with all the regulatory requirements in good faith.

To spread general awareness about potential risks in contracting loans and encouragecustomers to take independent financial advice and not to act only on representation frombanks.

Allahabad Bank Branches

Allahabad Bank has more than 1800 branches all over the country. In Uttar Pradesh aloneAllahabad Bank has approximately 600 branches and approximately 500 in West Bengal . Allahabad Bank also has 7 days banking branches. They are as under:

Sl.No Name of Branch Region

1 Kota Jaipur

2 Ambabari Jaipur

3 Alwar Jaipur

4 Nayapalli Bhubaneswar 5 Konnagar Chinsurah

6 Orai Jhansi

7 Jawaharnagar Guwahati

8 Nehru Colony , Dehradun Meerut
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9 C.O. Moradabad Moradabad

10 AMU. Aligarh Br. Moradabad

11 Gonda Gonda

12 Sitapur Sitapur

13 Bahraich Bahraich

14 Ujriwan, (Gomotinagar) Lucknow

15 Kanpur Main Br. Kanpur

16 Gumti No.5 Kanpur

17 Burra Colony Kanpur

18 Bagh Bazar R.O.Kol(Urban)

19 J.L.Road, Muzzaffarpur Muzaffarnagar

20 P.P.Colony, Patna Patna

21 Noida New Delhi

22 C.B., Ludhiana Chandigarh

23 Panch Kula Chandigarh

24 Sahidnagar Bhubaneswar

25 Vyapar Vihar , Bilaspur Bilaspur

26 Guwalior Bhopal

27 Kalyani Devi Allahabad

28 C.O. Gorakhpur Gorakhpur

29 Shiwala Mahant Mirzapur

30 U.P. College Varanasi

31 Mukul Bose Road R.O Kolkata(Metro)

32 K.N.Road, Berhampore Berhampore

33 Burdwan Main Road. Asansol

Allahabad Bank Loans

Allahabad Bank has a wide range of loan product for everyone. Some of them are asfollows:


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All Bank Saral Loan scheme Personal Loan for Pensioners Personal Loan for Doctors Loan against NSC/KVP Housin Finance

Furnishing Loan AllBank Rent Car Finance

Allahabad Bank Services

Allahabad Bank gives an exclusive service for outstation cheques. Bank of Allahabadguarantees 7 Days outstation cheques to be credited from its 180 locations. This service isexclusively given to a customer without any extra charge. Along with this serviceAllahabad Bank in India also provides the following services:

All Ayushman Bima Yojana All Bank-Property Cash Management Services Kisan Credit Card ATM Flexi-Fix Deposit Gold Deposit SSI Finance Gold Card Scheme for Exporters Kisan Shakti Yojana

Bancassurance & Mutual fund Visa Debit cum ATM Card

Allahabad Bank Housing Finance Scheme Target Group:

Permanent salaried employees, Professionals & Self-Employed Persons,Businessmen, having regular income to liquidate the loans.

Purpose:

For construction of residential house on land already owned. For purchase of plot by salaried persons from Govt. Agency /

Development Authority or any Govt. recognized agency (viz., HUDA,HOUSEFED) and construction of residential house thereon.

For purchase of house/flat to be used for residential purpose. For renovation / extension / repair of residential house already owned. For purchase of unfinished / old house(maximum 20 year old) and
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Renovation /extension / repair of the same. For taking over of housing loans from other finance companies /

financial institutions / banks. Bank finance extended to a person who already owns a house in town /

village where he resides, for buying / constructing a second house in the

same or other town / village for the purpose of self occupation. Bank finance extended for purchase of a house by a borrower whoproposes to let it out on rental basis on account of his posting outside theheadquarters or because he has been provided accommodation by hisemployer.

Bank finance extended to a person who proposes to buy an old house(Maximum 20 years old) where he is residing as a tenant.

Supplementary finance:

Additional finance may be granted by the bank within the overall ceiling

for carrying out alterations/ additions/repairs to the house/flat. Bank finance to individuals who have raised funds for construction /acquisition of accommodation from other sources and needsupplementary finance from our bank after creating pari-passu chargeover the property mortgaged in favour of other lenders and/or againstsuch other security.

Eligibility:

Housing Loan may be sanctioned to those who have regular income sufficientenough to liquidate the loan alongwith interest within stipulated period of

repayment.The employees who have availed of housing loan from their ownorganisations may also avail of loan from the Bank under this scheme if they arehaving regular income sufficient to liquidate the loan within the stipulatedperiod and are able to comply with other stipulations of the scheme.

However, special facility is also available as under

a. Repayment Option for salaried persons desirous to extend the repaymentperiod beyond the date of retirement under Public Housing Loan Scheme of theBank will be eligible upto 5 years after the date of retirement.

b. Availability of Progressive monthly installments (PMI) options under publichousing loan scheme.

Nature of Loan: Term Loan

Loan amount:

a. In case of salaried persons: The loan amount will be restricted to 60 times of


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monthly gross salary last drawn subject to the condition that it is within theproject cost less stipulated margin and Total deductions including EMI of proposed loan should not exceed 40% of the Gross monthly salary of theapplicant.

b. In case of others: The loan will be restricted up to 4 times of gross Incomeaverage shown in last 3 years Income Tax Assessment Order/ acknowledgedcopy of income tax return subject to the condition that it is within the projectcost less stipulated margin and Total deductions including EMI of proposed loanshould not exceed 40% of the Gross monthly income of the applicant as per ITReturns.

Income Tax returns will be got verified by engaging services of CharteredAccountant.

For repairing/furnishing of house/flat: Maximum loan for Repairing/Furnishing of existing House/ Flats will be 75% of the estimated expenses or Rs3, 00,000 which ever is low subject to the condition that borrower has sufficientrepaying capacity as per income criteria given hereunder: The minimum takehome monthly salary/income taking into account all deductions (including EMIof proposed loan) should not be less than 40% of last month's gross salary incase of salaried persons & 50 % of average gross monthly income as per averageof last three years IT Return in case of others.

4.3 For application money raised by Housing Boards/ DevelopmentAuthorities: Permissible Loan amount for Application Money raised by local

Housing Boards/ Development Authorities will be 75% of application amount or Rs 3,50,000/- which ever is lower subject to the condition that the borrower hascapacity to repay the loan within stipulated repayment period.

4.4. For Joint Borrowers: While computing repaying capacity in case of jointborrowers*, income of all borrowers may be clubbed. Joint borrowers may bethe co-owner of the property or they may not be co owner (but must be legalheirs of owner of the property / PF nominee / Spouse having future interest inthe property) but their income is to be considered as one of the source of loanrepayment. (*However, Income of Co- borrower / (s) will be clubbed only if source of income of co-borrower is salary and co-borrower / (s) is a permanent

employees of Government / Semi Government / Public Sector Unit/Multinational Corporate Houses/ Blue Chip Companies / reputed companies.)

Note: Income Tax return must be obtained in all cases including salariedpersons.

Margin:


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25 % of project cost and in case of repairing / furnishing 25% in all categories (including salaried

class)

Project cost will consist of - Purchase price of land/ house/ Flat, plus Cost of construction/ renovation/ extension (if applicable) plus Stamp duty and registrations charges, as applicable plus Accrued Interest

amount of moratorium period, if proposed to be capitalized It will be ensured that margin at all stages has been contributed by

the borrower upfront where disbursement is to be made in phases.

Click here for Rate of interest

Fixed rate of interest will be subject to following conditions: Subject to "interest rate reset" clause in terms of which fixed rates may

be reset at the end of every three years on the basis of interest rateprevailing at that time.

Subject to "force maejure" clause in terms of which Bank is authorizedto revise fixed interest suitably and prospectively in the event of major volatility in interest rates.

Borrower of housing loan may exercise the option to switch over at anypoint of time from floating to fixed or vice versa on the condition thatborrower has to pay as under:

From Fixed to Floating- 2% of outstanding balance for exercising the optionFrom Floating to fixed- 0.50% of outstanding balance for exercising the option

Click here for Processing Fees, Prepayment Penalty, DocumentationCharges, Mortgage and other charges

Security:

Primary:

Equitable/ Registered mortgage of the property or Pari- passu charge over the property if the borrower (salaried person) hasalready availed loan from his organisation.

Collateral Security:

Personal Guarantee of one person of means and standing acceptable tothe Bank will be taken in all cases. However, in case of delay in creation
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of mortgage Personal Guarantee of two person of means and standingwill be taken, where delay over 6 months in creation of equitablemortgage of the property to be financed by the Bank is expected. In caseof delay in creation of equitable mortgage of the property beyond 6

months, collateral security to the extent of loan amount in the shape of immovable property or financial securities or personal guarantee of twopersons of means & standing acceptable to the Bank will be taken.However, the same will not be needed where a property is beingpurchased from seller/builder as mentioned hereunder:

o Housing Board/ Development Authority /Govt agencyo Good rated /reputed housing company / builder/developer well

known at national / state level (VIZ: Ansal, Gujarat Ambuja,Bengal Ambuja, Bengal Peerless, Sahara Housing). List of suchreputed housing companies/ developers will be circulated byrespective Zonal Offices after its careful scrutiny and a copy will

be endorsed to Retail Credit Section, Head Office.o Approved Housing Societies notified by Zonal Offices.o Builders/Developers whose project has been approved by the

Bank as per bank's guidelines. (Approval of housing projects for the purpose of tie-up arrangement for loan to their prospectivebuyers where builder/developer is not seeking finance from thebank for the housing project may now be accorded by the ZonalHead).

Documentation: In a booklet form complete in all respect.

Documentation Charge: Actual expenses / charges incurred for creation of mortgage.

Disbursement:

In case of purchase of flat / House payment should be made direct to seller /promoters / societies by DD/ Banker's cheque and should be issued in the nameof builders with Bank account number on it. Bank's official should be sent for delivering the cheque / draft to the builders / sellers property at the registeredaddressed mentioned in the title deed.

In case of construction of new house / flat, loan will be disbursed in a phasedmanner, in 4 or more installments. Each such installment will be released onlyafter verification of end use of funds already released by the bank.

Repayment Period & Moratorium:

a Repayment Period:-


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For construction of House &/ or Purchase of House/ Flat/ResidentialPlot: For salaried Persons-- Maximum 25 years or length of remainingservice, whichever is less. For Others -- Maximum 20 years or remainingperiod in attaining an age of 65, which ever is earlier.

For Repairing/ Furnishing of House/ Flat: For salaried Persons--Maximum 7 years or length of remaining service, whichever is less. For Others -- Maximum 7 years or remaining period in attaining an age of 65, which ever is earlier.

For Application Money raised by Housing Board/ DevelopmentAuthority: 12 Months or receipt of refund order, which ever is earlier.

Other Norms on Repayment Period:Repayment period will be exclusiveof moratorium period.If the borrower desires to repay the loan in shorter period, he/she may be allowed to do so and monthly installment will befixed accordingly. Interest will be realised on monthly basis during themoratorium period. However, in case of salaried persons the interest

amount may be capitalised (i.e. included in project cost) on request of theborrower.

i) Loan Repayment Options is available.

a) Repayment option for salaried persons desirous to extend the repaymentperiod beyond the date of retirement under Housing Loan Scheme:

To extend repayment period of housing loan to salaried persons upto 5years after the date of retirement subject to the condition that EMI willbe within 60% of their estimated post retirement monthly earnings

(pension plus ascertainable other income such as rental earnings, incomefrom investment in securities/LIP/NSC etc.., if any) as also existing nettake home salary after taking all deductions will not be below 40% of gross salary.

There will also be flexibility to consider some lump sum / bullet paymentof full or part of the loan outstanding out of future sources of fund anddraw the repayment schedule accordingly.

If post retirement EMI is more than stipulated norms, pre-retirementEMI may be proportionately increased with borrower's consent.

b) Offering progressive monthly instalments (PMI) options

Under the plan, the initial monthly instalments for the first 5 years shallbe kept lower i.e., 80% of normal EMI and it will gradually go up to90% of EMI plus whatever shortfall during the first 10 years shall berealized after 10th year of loan. Accordingly, a three-tier repaymentschedule will be drawn up.

Borrowers will have also option for 2 tier repayment structure (with firsttier not above one third of repayment period)


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Borrowers may also get higher amount of progressive monthlyinstalments (PMI) than the above norms by opting higher %of EMI for PMI calculation. Existing borrower or Bank's employees also canexercise options (a) & (b).

Minimum 24 PDCs will be obtained before releasing of fund except

salary tied-up cases.

Prepayment Penalty

If liquidated within 1 year: 2% of outstanding balance If liquidated after 1 year: 1.50% of outstanding in case of takeover.

Flexi-Fix Deposit

1. Introduction:

1.1 The scheme gives maximum return without sacrificing the liquidity.

2. The Scheme:

2.1 Salient features and Rules of the Scheme are as follows :

It is a running account consisting of multiple units of simple or compound interestfetching Term Deposit Accounts like normal Fixed Deposit or Double DepositPlan respectively.

No Term Deposit Receipt will be issued for the deposits. Instead, a speciallydesigned pass book will be issued to the depositor, in which all the particularsregarding deposits, withdrawals, interest credit/ debit are recorded. However, theaccount under the scheme will be linked to a base account, which may be aSavings Bank or Current Account. For payment of interest or the maturity amountof a unit or at the time of premature withdrawal of a unit, as the case may be, theproceed thereof, net of TDS, as and where applicable, will be automatically sweptto the base account for making the funds available at the disposal of thedepositor/s.

Under the scheme, a depositor is required to make an initial deposit of Rs.25,000/-or more in multiples of Rs.5,000/- as Fixed Deposit/ Double Deposit Plan for afixed period of one year. Thereafter, the depositor can make any number of


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deposits in multiples of Rs.5,000/- each at any time in the account for a period of one year. Every Rs.5,000/- in the account will be treated as a separate unit of deposit.

The depositor will be required to maintain a minimum principal outstanding of

Rs.25,000/- i.e. 5 units of Rs.5,000/- each at all points of time. In case of fall inprincipal outstanding in the account below Rs.25000/-, the facility of further deposit of units in the account will stand withdrawn.

The depositor is free to withdraw any amount of the principal in multiples of Rs.5,000/- at any time before maturity without affecting the remaining units of deposit. However, the depositor will be required to maintain a minimum principaloutstanding of Rs.25,000/- i.e. 5 units of Rs.5,000/- each at all points of time, asstated hereinabove.There will be no penalty for the prematurely withdrawn units.

The rate of interest for the units will be the rate prevailing on the date of deposit

of the individual unit/s for the period of one year. In case of premature withdrawalof a unit, interest due, if any, will be paid net of TDS, as and where applicable, atthe rate prevailing on the date of deposit of the unit for the period for which thedeposit remained with the Bank No interest will be paid for premature withdrawalof a unit if the deposit remains with the Bank for a period less than 15 days. Thebalance units remaining in the account will continue to earn interest at thecontracted rates for the individual units.

Usual account opening procedures and formalities including observance of KYCand AML guidelines will be followed. In addition, a special letter for openingaccount under the scheme will be obtained from the depositor/s.

No loan will be allowed against this deposit.

Allahabad Bank is one of the premier nationalized banks in India. It is also the oldestjoint stock bank of India. It was incorporated by a group of Europeans at Allahabad onApril 24, 1865. It was the time Indian economy had started shifting towards organizedtrade and business affairs. After some years in 1920, the P&O Bank brought AllahabadBank and its headquarters at Kolkata. The Allahabad bank got an entirely new identitywhen it was nationalized in 1969 along with 13 other banks in India. Since then theAllahabad Bank had a smooth journey towards progress. Today it is one of the leadingbanks in India with a whooping business of over Rs.1, 00,000 crores.

Branches and BusinessAllahabad has adopted CBS (Core Banking Service) since 2006 and has developed 24hours connectivity with its 2165 branches across the length and breath of the country. In143 years of it existence the bank has come a long way by developing a wide grip over allthe corners of India. At present the Allahabad Bank has 44 Zonal Offices 6 Staff TrainingColleges and 3 Staff Training centers for imparting training centers in India.


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Apart from general branches, the bank has also come up with specialized branches, likeIndustrial Finance Branches, International Branches, Finance Branches, RecoveryBranches, NRI Branches Specialized Personal Banking Branches, Specialized SavingsBank Branches, Quick Collection Service Branches, Trading Finance Branches and

Service Branches in many major cities of India.

The businesses of the bank are thriving successfully. In the end of March 2007, theAllahabad Bank crosses a land mark of Rs.1, 00,000 crores. The bank's business alsoregistered a 6.90% growth during April-Sept 2007, when its business increased up toRs.1, 08,458 crores from Rs.1, 01,458 crores in merely 5 months. On Year-on-Year basis,the business of the bank has grown at a rate of 19.87%. The bank also registered animmense growth in total deposit record when its business went up to Rs.65,896 at end of September 2007 crores from Rs.54,006 crore in September 2006.

Product and Services

Deposit Products

Diamond Jubilee Deposit Scheme Rs. 5 Banking Gold Deposit Flexi-fix Deposit

Retail Credit Products

All Bank Housing Finance Scheme

Personal Loan Scheme for Pensioners All Bank Property Loan All Bank Saral Loan Scheme All Bank Educational Loan Scheme Overdraft Facility in Savings Bank Account Personal Loan Scheme for Doctors/ Medical Practitioners Loan against NSC/ KVP All Bank Mobike Scheme All Bank Rent Loan AllBank Gyan Dipika Scheme All Bank Car Finance Scheme AllBank Pilot Training Loan Scheme All Bank Furnishing Loan All Bank Gold Loan Scheme AllBank Reverse Mortgage Scheme All Bank Abhusan Scheme All Bank Trade Scheme

Other Credit Products


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Kisan Credit Card Kisan Shakti Yojana AllBank-Expo

Services

All Ayushman Bima Yojana Cash Management Services Depository Services Visa Cum Debit Card Services Real Time Gross Settlement National Electronic Funds Transfer Gold Card Scheme For Exporters Charter for MSME's Government Business Regional MSME care centers

YEAR EVENTS 1865 - Allahabad Bank was set up on 24th April, at Allahabad by a Group of Europeans with subscribed capital of Rs.3 lakh. It is the oldest Bank in the country at present.

1920 - The P and O Banking Corporation took over the bank by acquiring its shares.

1965 - The Bank celebrated Centenary. In 1969 it was nationalised. The bank has reached allsocial banking targets.

- It has introduced the Crop Credit Card [Fasli Shigra Ring Patras]. It has launched the credit card'India Card - Allahabad Bank'.

1992 - During the year the country faced its economic challenges Boldly & emerged withcreditable achievements despite the following constraints.

- Longer maturity Treasury Bills [364 dayss] have been introduced.

- The Bank has adopted 23 villages as `Model villages' for their integrated development.

- International Branch at Moradabad became the first nationalised bank outside a metropolitancity to handle foreign exchange business.

- The Bank has been designated as one of banks to handle India Development Bonds Schemeunder which the Bank mobilised subscriptions of Rs. 14.85 crore.

- The Bank Computer Based Terminal was commissioned at International Branch, Mumbai.

- The Bank has joined the elite group of 3000 banking/financial institutions in 72 countries for rapid transfer of standardised messages among SWIFT members by using state of artcommunication technology.

- A dedicated communication line was set up between the mainframe computer & the CentralAccounts Department to accelerate data-transfer & update data files.


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- The Bank has an effective vigilance set up to handle the Bank's vigilance matters.

- The Bank was awarded Fourth Prize by RBI under the Reserve Bank of India Shield Scheme for its commendable work regarding implementation of Hindi in Region C'. It was awarded acertificate & the Third Prize in the Indira Gandhi Official Language Shield Competition 1991.

- The Rajbhasha Shield was awarded to the Bank as Second Prize for its best performance byOfficial Language Implementation Committee of Calcutta for year 1991. Rajbhasha Shields wereawarded to Patna, Kanpur & Lucknow Zones & Hyderabad Regional Office.

- The Bank organised an Official Language Conference at Jaipur during December 1991, It isregularly publishing the House Journal `Triveni Dhara' which contains Hindi section.

- The Head Office Official Language Department has been publishing the journal Ila Bharati' inHindi.

- The Bank has introduced mechanisation of Draft Reconciliation System at 11 Service Branches.

1993 - It has been proposed to set up a Securities Trading Corporation.

- During the year, a Memorandum of Understanding was signed with Bank of India for issuing theBank INDIACARD with Mastercard affiliation.

- The Bank implemented the new scheme of Government called 'Simplified Scheme for paymentof income tax by shopkeepers and other retail traders'.

- The International Branch, Mumbai, has been connected to the SWIFT network.

- During the year Shresthta Ka Pramanpatra was awarded to the Bank by TOLIC, Calcutta.

1994 - International Divisions have been opened at Nadesar Varanasi, Agra City & Kanpur.

1995 - The Bank has entered into an MOU with the Small Industries Development Bank of India[SIDBIs] for financing small scale industrial units.

- The Bank will shortly be setting up a housing subsidiary with a proposed name 'All HousingFinance Ltd.'

- The Bank has 5 International Branches & 4 International Divisions.

- The Bank organised 123 Hindi Workshops at different training centres & at Zonal Office levelduring the year in which 2389 officers/employees were imparted practical training in Hindi.

- The Reserve Bank of India has awarded first prize to the Bank for commendable work in Hindi inRegion `A' during the year.

- The Bank emerged as the champion in the 8th All-India InterBank Football Tournament,sponsored by Banks' Sports Board, IBA, held in Calcutta in February 1995, in which 10 bankspariticipated.

1996 - The Bank set up Information Technology Centre to provide indepth computer training toOfficers at Calcutta & Lucknow.


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- The Bank emerged as the runners-up in the 7th Inter-Bank Football Tournament [EasternRegions], sponsored by Banks' Sports Board, IBA, held at Durgapur from 15.2.1996 to 21.2.1996in which 8 banks participated.

1997 - A one-day token strike was observed in all the 475 branches of Allahabad Bank in WestBengal to protest the management's alleged apathetic attitude towards the employees long

standing demand.

- Wipro the Indian computer giant, is set to win the first phase of computerisation contract fromthe Calcutta based Allahabad Bank.

- The Calcutta based Allahabad Bank has decided to close down all its 11 zonal offices & relocatesome of its regional offices as part of restructuring process in the bank.

- Allahabad Bank, the Calcutta-based public sector bank, which has received an in-principleclearance from the Reserve Bank of India [RBIs] for setting up a housing finance subsidiary, isreviewing its decision to do so in the light of present market scenario.

- Allahabad Bank has set up a committee in order to evolve a new formula for advancing loans for working capital requirements of businesses.

- The Calcutta-based public sector Allahabad Bank has recently beefed up its Tier-II capital by arevaluation of its assets, chiefly real estate assets, by Rs 132 crore. This has enabled an increasein the bank capital adequacy ratio [CARs] by one percentage point to above 10 per cent.

- Allahabad Bank has set up a committee in order to evolve a new formula for advancing loans for working capital requirements of businesses. An expert committed has set up around two daysago which is studying the issue.

1998 - Allahabad Bank is scouting for foreign tie-ups in the area of gold trading, for which it hasrecently received permission from the Reserve Bank of India [RBIs].

- The Allahabad Bank has become one of first banks in the country to draw up a creditmanagement policy following the dismantling of Reserve Bank of India-prescribed MaximumPermissible Bank Finance [MPBFs] norms.

- Allahabad Bank has entered into an arrangement, informally though, with IDBI & ICICI in regardto funding of infrastructure projects.

- Allahabad Bank is all set to widen its term deposit portfolio with the launch of its Flexifix DepositScheme on January 1. Flexifix Deposit offers to the customers high interest returns of fixeddeposit scheme along with the option of withdrawing a part of their deposits prematurely withoutaffecting the rate of interest or maturity date of balance part of deposits.

- The bank is installing 14 automated teller machines [ATMss] in eight cities throughout India, theRs.1.20 crore contract for which has been awarded to Siemens Nixdorf Information Systems Ltd.

- The Allahabad Bank launched the Allahabad Bank Green Card for farmers to enable adequate& timely credit support to them, not just to meet cultivation costs but also domestic needs.

1999 - Allahabad Bank has launched two new schemes to increase the pace of credit offtake.


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- TATA Consultancy Services [TCSs] has entered into a contract with Allahabad Bank for implementing the Integrated Standard Banking System [ISBSs], a branch mechanisationpackage, at 60 branches of bank.

- The city-based Allahabad Bank has bagged three major core sector clients - National ThermalPower Corporation [NTPCs], Power Grid Corporation & Indian Railway Finance Corporation Ltd

[IRFCs].

- AllBank Finance Ltd the 100-per cent subsidiary of Allahabad Bank, will seek the approval fromthe Reserve Bank of India [RBIs] for accepting public deposits.

- Allahabad Bank is launching a new trading finance scheme to bolster the growth of its merchantsegment. The scheme, which already has the board approval, was recently formulated by thebank business promotion committee [BPCs].

2000 - Allahabad Bank launched 56 boutique branches on Friday.

- Allahabad Bank is to float a global tender inviting bids from international vendors for supplyingboth hardware & software to network 250 of its branches including regional & zonal offices.

- Allahabad Bank has launched a new portal, the second of its kind, for sanctioning car loansthrough the Internet. - Allahabad Bank becomes the first public sector bank to have an exclusiveWeb site of its own, www.allbankcarloans.com, dedicated to sanctioning car loans through theInternet.

- The Bank is making a foray into housing finance with the opening of 38 housing finance cells.The bank introduced a wide range of personal finance products such as car, personal, consumer,housing loans & flexifix deposit schemes et al.

- Calcutta-based Allahabad Bank has developed three new products - collect & pay services,guaranteed credit services & direct deposit services.

- The Bank has installed an automatic teller machine at its Vashi branch under the sharedpayment network of Indian Banks' Association.

- Allahabad Bank Gariahat branch in the city will offer 24-hour telebanking facility from 28th June.

- The Bank has tied up with Zenith Infotech to provide Internet banking.

- Allahabad Bank has launched Allnet - the bank internet banking service at its industrial financebranch in Mumbai.

- Allahabad Bank as introduced its voluntary retirement scheme & a sabbatical for its officers &employees.

- Allahabad Bank has proposed to expand its depository services in Calcutta by openingcollection centres at five strategic locations in the city.

- Allahabad Bank set up a firstaid centre in the Science City, at Calcutta.

2001 - Allahabad Bank has launched its new personal loan scheme for pensioners.


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2002

-Allahabad has tied up with National Institute of Banking Management, Crisil & Earnst and Youngfor development of HRM, risk Management & general business strategy.

-Allahabad bank has posted a 101%growth in the net profit to Rs.80.21cr with a business of

34,481.

-ICICI Bank has opposed Allahabad Bank petition seeking Kothari Petro wind up.

-Allahabad Bank cuts its Prime Lending Rates, its revised rates will be 11.5% as against thepresent 12%.

-Allahabad Bank takes the posession of property worth Rs. 3cr in the city using the powers givenby securitisation & reconstruction of Financial Assets & Enforcement of security ordinance.

-Bank serves notices to 700 defaulters involving Rs.100cr

2003

-Allahabad Bank has seized the commercial assets of Gurantors of Ramolene Fabrics [Ps] Ltd inMumbai.

-The rural banking department of Allahabad Bank has provided loans to farmers of rural areas for agriculture.

-Allahabad bank signs a Memorandum of Understanding with Corporation Bank for mutualsharing of their ATM Network.

-Bank has been able to prune non-performing assets by Rs.540crs through a mix of cashrecoveries, compromise, upgradation & wire-offs.

-Dr.B Sama, Chairman & MD of bank has retired at the close of business on date due to itssuperannuation interms of GOI.

-Mr. Onkar Nath singh has assumed charge of Chairman & Managing Director of Bank in terms of Notification No.F.No.9/14/2003-B.O.I. dated December 04, 2003 of Government of India, Ministryof Finance, Department of Economic Affairs [Banking Divisions].

2004

-Allahabad Bank slashes prime lending rates by 50 basis points

-Allahabad Bank participates in the equity of an ARC being floated by UTI

-Allahabad Bank has informed that the Central Government after consultation with the ReserveBank of India has nominated Smt. Sewali Chowdhary, Chief General Manager, Rural Planning &credit Department Reserve Bank of India, Kolkata, as Director on the Board of Directors of Allahabad Bank in place of Sri Surinder Kumar with effect from January 9, 2004 & until further Orders. Consequently, Sri Surinder Kumar has ceased to be a Director of Bank.


17/22

-Allahabad Bank has informed that it has entered into an MOU with the Export Credit GuaranteeCorporation of India [ECGCs] for distribution of their products to the exporters.

-UTI Mutual Fund & Allahabad Bank on April 5, 2004 announced a strategic tie-up for distributionof UTI MF schemes

-Allahabad Bank has on April 24, 2004 stepped into the 140th year of its glorious existence in theIndian Financial sector.

-Life Insurance Corporation of India & Allahabad Bank enter into a strategic tie up to developbancassurance

-Allahabad Bank MD gets award from Wisitex

2005

- Allahabad Bank sets the price band for public issue of 100,000,000 equity shares of Rs 10 eachfor cash through book-building route, which is opening on April 06, 2005. The price band is Rs 75to Rs 82 per share of face value of Rs 10/- each. Rs 75/- being floor price & Rs 82 being the capprice. Accordingly bid lot has been decided at 75 shares & in multiples of 75 shares thereafter.

- Allahabad Bank public issue oversold 3.32 times

- The follow-on Public Issue of 100,000,000 Equity Shares of Bank through the book buildingprocess opened for bidding on April 06, 2005 & closed on April 12, 2005. The price band fixed for same was Rs.75 to Rs.82. Based on the response to the follow-on Public Issue & after consultation with the Book Running Lead Managers, the Bank has fixed the Issue Price at Rs.82/- per Equity Share for purpose of allotment of equity shares in the said follow-on Public Issueof Bank.

-Allahabad Bank signs memorandum of understanding with Mahindra Gujarat Tractor Ltd for

financing Hindustan brand tractor under special finance scheme

2006

-Allahabad Bank appointed Shri. A C Mahajan as Chairman and Managing Director [CMDs] onAugust 01, 2006 upto July 31, 2010

- Allahabad Bank has informed that Sri S. L. Jain, Chief Manager will act as Comp. Secretary of Bank w.e.f November 01, 2006 in place of Sri Peter Barua, Comp. Secretary who will retire fromBank Service on date.

2007

- Allahabad Bank has informed that Government of India, Ministry of Finance, Departmental of Financial Services vide notification dated December 19, 2007 nominated Shri K K Dogra, Sr Manager of Bank as Officer Employee Director on the Board of Directors of Bank for a period of three years from the date of notification or till he ceases to be an officer of Bank or until further orders, whichever is the earliest.

2008


18/22

-Allahabad Bank has informed that Government of India, Ministry of Finance, Department of Financial Services vide notification dated June 25, 2008, has appointed Shri. A C Mahajan,Chairman and Managing Director of Bank as Chairman and Managing Director of Canara Bankfrom the date of his taking charge on or after July 01, 2008.

- Allahabad Bank has informed that in exercise of powers conferred by clause [as] of sub-section

[3s] of section 9 of Banking Companies [Acquisition & Transfer of Undertakingss] Act, 1970 /1980, read with sub-clause [1s] of clause [3s] & sub clause 8 of Nationalized Banks [Management& Miscellaneous Provisionss] Scheme, 1970 / 1980, the Central Government, in consultation withReserve Bank of India hereby appoints Shri. K R Kamath as Chairman and Managing Director,Allahabad Bank for a period of five years on & from August 02, 2008 or until further orderswhichever is earlier.

Balance Sheet of Steel Authority of India [SAILs] Ltd.

Balance SheetRs. cr

Period and months 2008/03 2007/03 2006/03 2005/03 2004/03SOURCES OF FUNDSOwned Funds

Equity Share Capital 4,130.40 4,130.40 4,130.40 4,130.40 4,130.40Share Application Money 0.00 0.00 0.00 0.00 0.00Preferential Share Capital 0.00 0.00 0.00 0.00 0.00Reserves & Surplus 18,933.17 13,182.75 8,471.01 6,176.25 907.27Loan FundsSecured Loans 925.31 1,556.39 1,122.16 1,603.98 3,378.48Unsecured Loans 2,119.93 2,624.13 3,175.46 4,165.81 5,310.28TOTAL 26,108.81 21,493.67 16,899.03 16,076.44 13,726.43

USES OF FUNDSFixed AssetsGross Block 30,922.73 29,912.71 29,360.46 28,043.48 27,712.71Accumulated Depreciation 19,351.42 18,315.00 17,198.32 15,558.41 14,558.86Less: Revaluation Reserve 0.00 0.00 0.00 0.00 0.00Net Block 11,571.31 11,597.71 12,162.14 12,485.07 13,153.85Capital Work-in-progress 2,389.55 1,236.04 757.94 366.48 382.20


19/22

Investments 538.20 513.79 292.00 606.71 543.17 Net Current Assets

Current Assets, Loans &Advances 27,309.01 21,673.75 18,788.80 15,521.37 8,201.33

Less: Current Liabilities &Provisions 15,758.74 13,656.77 15,317.67 13,198.12 8,932.62

Total Net Current Assets 11,550.27 8,016.98 3,471.13 2,323.25 -731.29 Miscellaneous Expenses notwritten off 59.48 129.15 215.82 294.93 378.50

TOTAL 26,108.81 21,493.67 16,899.03 16,076.44 13,726.43Number of Equity shares

outstanding [Cr.s]413.04 413.04 413.04 413.04 413.04

Bonus component in EquityCapital 0.00 0.00 0.00 0.00 0.00

Notes:Book Value of UnquotedInvestments 546.02 521.61 296.61 608.32 568.32

Market Value of QuotedInvestments 5.12 4.31 3.33 0.89 0.77

Contingent liabilities 17,143.54 5,605.90 5,541.62 4,566.72 3,697.19

Profit & Loss of Steel Authority of India [SAILs] Ltd.

Profit & LossRs. cr

Period and months 2008/03 2007/03 2006/03 2005/03 2004/03INCOMENet Operating Income 39,958.67 34,328.77 28,200.48 28,714.30 21,669.54 EXPENSESMaterial Consumption 16,821.39 15,963.13 13,903.23 11,155.33 9,315.53Manufacturing Expenses 3,317.74 2,925.43 2,793.45 2,427.11 2,362.05Personel Expenses 7,919.28 5,087.76 4,156.97 3,811.75 4,758.49Selling Expenses 1,143.90 1,066.73 1,108.12 971.78 870.75Administrative Expenses 1,321.44 1,064.29 1,035.99 780.67 766.73Capitalised Expenses -1,832.22 -1,423.08 -1,352.05 -921.71 -893.07


20/22

Cost of Sales 28,691.53 24,684.26 21,645.71 18,224.93 17,180.48 Reported PBDIT 11,267.14 9,644.51 6,554.77 10,489.37 4,489.06 Other Recuring Income 1,539.69 1,354.96 892.30 676.55 953.57

Adjusted PBDIT 12,806.83 10,999.47 7,447.07 11,165.92 4,861.60 Depreciation 1,235.48 1,211.48 1,207.30 1,126.95 1,122.59Other Write-offs 75.49 128.59 181.44 184.89 310.01 Adjusted PBIT 11,495.86 9,659.40 6,058.33 9,854.08 3,429.00 Finanical Expenses 250.94 332.13 467.76 605.05 953.57 Adjusted PBT 11,244.92 9,327.27 5,590.57 9,249.03 2,475.43 Tax Charges 3,934.65 3,253.80 1,694.36 2,592.37 118.47 Adjusted PAT 7,310.27 6,073.47 3,896.21 6,656.66 2,356.96Non-recurring Items 161.90 53.75 45.64 -14.35 143.42Other Non-cash Adjustments 64.61 60.57 71.12 174.66 11.70 REPORTED PAT 7,536.78 6,202.29 4,012.97 6 ,816.97 2,512.08 APPROPRIATIONSEquity Dividend 1,528.25 1,280.42 826.08 1,363.03 0.00

Preference Dividend 0.00 0.00 0.00 0.00 0.00Retained Earnings 16,561.27 11,408.23 6,919.53 5,291.39 -252.85

Half - yearly resultsRs. cr

year 2008/09 2007/09 var 2008/03 2007/03 var 2008/03 2007/03 var period 1st Half 1st Half % 2nd Half 2nd Half % Full Year Full Year %

SalesIncome 26,324.99 19,790.06 33.02 24,492.26 21,776.83 12.47 46,261.05 40,291.75 14.82

Other Income 814.95 611.19 33.34 691.69 461.88 49.76 1,302.88 839.21 55.25

TotalExpenditure 20,539.90 14,777.87 38.99 18,165.21 16,321.63 11.30 34,922.03 30,164.73 15.77


21/22

Interest 104.30 139.00 -24.96 111.94 146.05-

23.36 250.94 332.13 -24.45

Gross Profit 6,495.74 5,484.38 18.44 6,906.80 5,771.03 19.68 12,390.96 10,634.10 16.52

Depreciation 635.91 602.39 5.56 633.09 612.14 3.42 1,235.48 1,211.48 1.98

TaxCharges 2,045.88 1,656.63 23.50 2,278.69 1,754.73 29.86 3,934.65 3,253.80 20.92

ExtraOrdinaryItems

0.00 0.00 NA 313.25 0.00 NA 313.25 0.00 NA

ReportedPAT 3,813.95 3,225.36 18.25 4,308.27 3,404.16 26.56 7,534.08 6,168.82 22.13

Prior Year Adjustment 30.84 0.00 NA 3.15 31.09

-89.87 2.70 33.47 -91.93

ReswrittenBack 0.00 0.00 NA 0.00 0.00 NA 0.00 0.00 NA

EquityCapital 4,130.40 4,130.40 0.00 4,130.40 4,130.40 0.00 4,130.40 4,130.40 0.00

Res andSurplus 0.00 0.00 NA 18,933.17 13,182.75 43.62 0.00 13,182.75

-100.00

Key Financial Ratios 2008/03 2007/03 2006/03 2005/03 2004/03

Per ShareEPS 18.25 15.02 9.72 16.50 6.08CEPS 21.42 18.26 13.08 19.68 9.55Book Value 55.84 41.92 30.51 24.95 12.20Dividend/Share 3.70 3.10 2.00 3.30 0.00Operating Profit / Share 27.28 23.35 15.87 25.40 10.87Net Operating Income / Share 96.74 83.11 68.28 69.52 52.46Free Reserves / Share 45.02 30.72 19.02 13.07 -0.29 Profitability RatiosOPM 28.19 28.09 23.24 36.53 20.71GPM 25.10 24.56 18.96 32.60 15.53


22/22

NPM 18.16 17.38 13.79 23.19 11.39RONW 31.77 35.34 31.45 66.48 50.58 Liquidity ratiosDebt/Equity 0.13 0.24 0.34 0.55 1.72

Current Ratio 1.73 1.59 1.23 1.18 0.91Quick Ratio 1.23 1.01 0.72 0.76 0.57Interest Cover 51.04 33.12 15.92 18.45 5.10 Turn Over RatiosSales/Total Assets 3.46 4.28 8.12 12.36 -29.63Sales/Fixed Assets 2.86 2.67 2.18 2.23 1.60Sales/Current Assets 1.46 1.58 1.50 1.85 2.64 MiscellaneousNo of Days of Working Capital 104.06 84.07 44.31 29.13 -12.15CAR 0.00 0.00 0.00 0.00 0.00

Capital Structure of Steel Authority of India [SAILs] Ltd.

Capital Structure

FromYear

ToYear

Class Of Share

Authorised

Capital[Cr.s]

Issued

Capital[Cr.s]

PaidUpShares

FaceValue

PaidUp

Capital[Cr.s]2007 2008 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.402006 2007 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.402005 2006 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.402004 2005 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.402003 2004 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.402002 2003 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.402001 2002 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.402000 2001 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.401999 2000 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40

intro of allahabad bank

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