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Allahabad Bank is the oldest public sector bank in India with branches all over India.

Allahabad
Bank 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 and
liabilities 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 through
complaint 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 encourage
customers to take independent financial advice and not to act only on representation from
banks.

Allahabad Bank Branches

Allahabad Bank has more than 1800 branches all over the country. In Uttar Pradesh alone
Allahabad 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


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 as
follows:
• 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 Allahabad
guarantees 7 Days outstation cheques to be credited from its 180 locations. This service is
exclusively given to a customer without any extra charge. Along with this service
Allahabad 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
• 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 who
proposes to let it out on rental basis on account of his posting outside the
headquarters or because he has been provided accommodation by his
employer.
• 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 need
supplementary finance from our bank after creating pari-passu charge
over the property mortgaged in favour of other lenders and/or against
such other security.

Eligibility:

Housing Loan may be sanctioned to those who have regular income sufficient
enough to liquidate the loan alongwith interest within stipulated period of
repayment.The employees who have availed of housing loan from their own
organisations may also avail of loan from the Bank under this scheme if they are
having regular income sufficient to liquidate the loan within the stipulated
period 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 repayment


period beyond the date of retirement under Public Housing Loan Scheme of the
Bank will be eligible upto 5 years after the date of retirement.

b. Availability of Progressive monthly installments (PMI) options under public


housing 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


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

b. In case of others: The loan will be restricted up to 4 times of gross Income


average shown in last 3 years Income Tax Assessment Order/ acknowledged
copy of income tax return subject to the condition that it is within the project
cost less stipulated margin and Total deductions including EMI of proposed loan
should not exceed 40% of the Gross monthly income of the applicant as per IT
Returns.

Income Tax returns will be got verified by engaging services of Chartered


Accountant.

For repairing/furnishing of house/flat: Maximum loan for Repairing/


Furnishing of existing House/ Flats will be 75% of the estimated expenses or Rs
3, 00,000 which ever is low subject to the condition that borrower has sufficient
repaying capacity as per income criteria given hereunder: The minimum take
home monthly salary/income taking into account all deductions (including EMI
of proposed loan) should not be less than 40% of last month's gross salary in
case of salaried persons & 50 % of average gross monthly income as per average
of last three years IT Return in case of others.

4.3 For application money raised by Housing Boards/ Development


Authorities: 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 has
capacity to repay the loan within stipulated repayment period.

4.4. For Joint Borrowers: While computing repaying capacity in case of joint
borrowers*, income of all borrowers may be clubbed. Joint borrowers may be
the co-owner of the property or they may not be co owner (but must be legal
heirs of owner of the property / PF nominee / Spouse having future interest in
the property) but their income is to be considered as one of the source of loan
repayment. (*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 salaried
persons.

Margin:
• 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 rate
prevailing at that time.
• Subject to "force maejure" clause in terms of which Bank is authorized
to 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 any
point of time from floating to fixed or vice versa on the condition that
borrower has to pay as under:

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


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

Click here for Processing Fees, Prepayment Penalty, Documentation


Charges, Mortgage and other charges

Security:

Primary:

• Equitable/ Registered mortgage of the property or


• Pari- passu charge over the property if the borrower (salaried person) has
already availed loan from his organisation.

Collateral Security:

• Personal Guarantee of one person of means and standing acceptable to


the Bank will be taken in all cases. However, in case of delay in creation
of mortgage Personal Guarantee of two person of means and standing
will be taken, where delay over 6 months in creation of equitable
mortgage of the property to be financed by the Bank is expected. In case
of 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 two
persons of means & standing acceptable to the Bank will be taken.
However, the same will not be needed where a property is being
purchased from seller/builder as mentioned hereunder:
o Housing Board/ Development Authority /Govt agency
o 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 such
reputed housing companies/ developers will be circulated by
respective 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 prospective
buyers where builder/developer is not seeking finance from the
bank for the housing project may now be accorded by the Zonal
Head).

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 name
of 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 registered
addressed mentioned in the title deed.

In case of construction of new house / flat, loan will be disbursed in a phased


manner, in 4 or more installments. Each such installment will be released only
after verification of end use of funds already released by the bank.

Repayment Period & Moratorium:

a Repayment Period:-
• For construction of House &/ or Purchase of House/ Flat/Residential
Plot: For salaried Persons-- Maximum 25 years or length of remaining
service, whichever is less. For Others -- Maximum 20 years or remaining
period 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/ Development
Authority: 12 Months or receipt of refund order, which ever is earlier.
• Other Norms on Repayment Period:Repayment period will be exclusive
of 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 be
fixed accordingly. Interest will be realised on monthly basis during the
moratorium period. However, in case of salaried persons the interest
amount may be capitalised (i.e. included in project cost) on request of the
borrower.

i) Loan Repayment Options is available.

a) Repayment option for salaried persons desirous to extend the repayment


period beyond the date of retirement under Housing Loan Scheme:

• To extend repayment period of housing loan to salaried persons upto 5


years after the date of retirement subject to the condition that EMI will
be within 60% of their estimated post retirement monthly earnings
(pension plus ascertainable other income such as rental earnings, income
from investment in securities/LIP/NSC etc.., if any) as also existing net
take 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 payment
of full or part of the loan outstanding out of future sources of fund and
draw the repayment schedule accordingly.
• If post retirement EMI is more than stipulated norms, pre-retirement
EMI 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 shall
be kept lower i.e., 80% of normal EMI and it will gradually go up to
90% of EMI plus whatever shortfall during the first 10 years shall be
realized after 10th year of loan. Accordingly, a three-tier repayment
schedule will be drawn up.
• Borrowers will have also option for 2 tier repayment structure (with first
tier not above one third of repayment period)
• Borrowers may also get higher amount of progressive monthly
instalments (PMI) than the above norms by opting higher %of EMI for
PMI calculation. Existing borrower or Bank's employees also can
exercise 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 interest


fetching Term Deposit Accounts like normal Fixed Deposit or Double Deposit
Plan respectively.

• No Term Deposit Receipt will be issued for the deposits. Instead, a specially
designed pass book will be issued to the depositor, in which all the particulars
regarding deposits, withdrawals, interest credit/ debit are recorded. However, the
account under the scheme will be linked to a base account, which may be a
Savings Bank or Current Account. For payment of interest or the maturity amount
of a unit or at the time of premature withdrawal of a unit, as the case may be, the
proceed thereof, net of TDS, as and where applicable, will be automatically swept
to the base account for making the funds available at the disposal of the
depositor/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 a
fixed period of one year. Thereafter, the depositor can make any number of
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 in
principal 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 principal
outstanding of Rs.25,000/- i.e. 5 units of Rs.5,000/- each at all points of time, as
stated 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 withdrawal
of a unit, interest due, if any, will be paid net of TDS, as and where applicable, at
the rate prevailing on the date of deposit of the unit for the period for which the
deposit remained with the Bank No interest will be paid for premature withdrawal
of a unit if the deposit remains with the Bank for a period less than 15 days. The
balance units remaining in the account will continue to earn interest at the
contracted rates for the individual units.

• Usual account opening procedures and formalities including observance of KYC


and AML guidelines will be followed. In addition, a special letter for opening
account 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 oldest
joint stock bank of India. It was incorporated by a group of Europeans at Allahabad on
April 24, 1865. It was the time Indian economy had started shifting towards organized
trade and business affairs. After some years in 1920, the P&O Bank brought Allahabad
Bank and its headquarters at Kolkata. The Allahabad bank got an entirely new identity
when it was nationalized in 1969 along with 13 other banks in India. Since then the
Allahabad Bank had a smooth journey towards progress. Today it is one of the leading
banks in India with a whooping business of over Rs.1, 00,000 crores.

Branches and Business


Allahabad has adopted CBS (Core Banking Service) since 2006 and has developed 24
hours connectivity with its 2165 branches across the length and breath of the country. In
143 years of it existence the bank has come a long way by developing a wide grip over all
the corners of India. At present the Allahabad Bank has 44 Zonal Offices 6 Staff Training
Colleges and 3 Staff Training centers for imparting training centers in India.
Apart from general branches, the bank has also come up with specialized branches, like
Industrial Finance Branches, International Branches, Finance Branches, Recovery
Branches, NRI Branches Specialized Personal Banking Branches, Specialized Savings
Bank 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, the
Allahabad Bank crosses a land mark of Rs.1, 00,000 crores. The bank's business also
registered a 6.90% growth during April-Sept 2007, when its business increased up to
Rs.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 an
immense 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


• 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 all
social 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 with
creditable 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 metropolitan
city to handle foreign exchange business.

- The Bank has been designated as one of banks to handle India Development Bonds Scheme
under 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 art
communication technology.

- A dedicated communication line was set up between the mainframe computer & the Central
Accounts Department to accelerate data-transfer & update data files.
- 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 a
certificate & 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 by
Official Language Implementation Committee of Calcutta for year 1991. Rajbhasha Shields were
awarded to Patna, Kanpur & Lucknow Zones & Hyderabad Regional Office.

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

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

- 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 the
Bank INDIACARD with Mastercard affiliation.

- The Bank implemented the new scheme of Government called 'Simplified Scheme for payment
of 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 Housing
Finance Ltd.'

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

- The Bank organised 123 Hindi Workshops at different training centres & at Zonal Office level
during 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 in
Region `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 banks
pariticipated.

1996 - The Bank set up Information Technology Centre to provide indepth computer training to
Officers at Calcutta & Lucknow.
- The Bank emerged as the runners-up in the 7th Inter-Bank Football Tournament [Eastern
Regions], sponsored by Banks' Sports Board, IBA, held at Durgapur from 15.2.1996 to 21.2.1996
in which 8 banks participated.

1997 - A one-day token strike was observed in all the 475 branches of Allahabad Bank in West
Bengal 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 from
the Calcutta based Allahabad Bank.

- The Calcutta based Allahabad Bank has decided to close down all its 11 zonal offices & relocate
some 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-principle
clearance from the Reserve Bank of India [RBIs] for setting up a housing finance subsidiary, is
reviewing 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 a
revaluation of its assets, chiefly real estate assets, by Rs 132 crore. This has enabled an increase
in 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 days
ago which is studying the issue.

1998 - Allahabad Bank is scouting for foreign tie-ups in the area of gold trading, for which it has
recently 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 credit
management policy following the dismantling of Reserve Bank of India-prescribed Maximum
Permissible Bank Finance [MPBFs] norms.

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

- Allahabad Bank is all set to widen its term deposit portfolio with the launch of its Flexifix Deposit
Scheme on January 1. Flexifix Deposit offers to the customers high interest returns of fixed
deposit scheme along with the option of withdrawing a part of their deposits prematurely without
affecting 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, the
Rs.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.
- TATA Consultancy Services [TCSs] has entered into a contract with Allahabad Bank for
implementing the Integrated Standard Banking System [ISBSs], a branch mechanisation
package, at 60 branches of bank.

- The city-based Allahabad Bank has bagged three major core sector clients - National Thermal
Power 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 from
the Reserve Bank of India [RBIs] for accepting public deposits.

- Allahabad Bank is launching a new trading finance scheme to bolster the growth of its merchant
segment. The scheme, which already has the board approval, was recently formulated by the
bank 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 supplying
both 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 loans
through the Internet. - Allahabad Bank becomes the first public sector bank to have an exclusive
Web site of its own, www.allbankcarloans.com, dedicated to sanctioning car loans through the
Internet.

- 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 shared
payment 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 finance
branch 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 opening
collection 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.
2002

-Allahabad has tied up with National Institute of Banking Management, Crisil & Earnst and Young
for 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 the
present 12%.

-Allahabad Bank takes the posession of property worth Rs. 3cr in the city using the powers given
by 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 in
Mumbai.

-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 mutual
sharing of their ATM Network.

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

-Dr.B Sama, Chairman & MD of bank has retired at the close of business on date due to its
superannuation 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, Ministry
of 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 Reserve
Bank 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.
-Allahabad Bank has informed that it has entered into an MOU with the Export Credit Guarantee
Corporation 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 distribution
of UTI MF schemes

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

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

-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 each
for cash through book-building route, which is opening on April 06, 2005. The price band is Rs 75
to Rs 82 per share of face value of Rs 10/- each. Rs 75/- being floor price & Rs 82 being the cap
price. 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 building
process 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 Issue
of 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] on
August 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 from
Bank 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
-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 Bank
from 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 with
Reserve 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 orders
whichever is earlier.

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

Balance Sheet
Rs. cr
Period and months 2008/03 2007/03 2006/03 2005/03 2004/03
SOURCES OF FUNDS
Owned Funds
Equity Share Capital 4,130.40 4,130.40 4,130.40 4,130.40 4,130.40
Share Application Money 0.00 0.00 0.00 0.00 0.00
Preferential Share Capital 0.00 0.00 0.00 0.00 0.00
Reserves & Surplus 18,933.17 13,182.75 8,471.01 6,176.25 907.27
Loan Funds
Secured Loans 925.31 1,556.39 1,122.16 1,603.98 3,378.48
Unsecured Loans 2,119.93 2,624.13 3,175.46 4,165.81 5,310.28
TOTAL 26,108.81 21,493.67 16,899.03 16,076.44 13,726.43

USES OF FUNDS
Fixed Assets
Gross Block 30,922.73 29,912.71 29,360.46 28,043.48 27,712.71
Accumulated Depreciation 19,351.42 18,315.00 17,198.32 15,558.41 14,558.86
Less: Revaluation Reserve 0.00 0.00 0.00 0.00 0.00
Net Block 11,571.31 11,597.71 12,162.14 12,485.07 13,153.85
Capital Work-in-progress 2,389.55 1,236.04 757.94 366.48 382.20
Investments 538.20 513.79 292.00 606.71 543.17

Net Current Assets


Current Assets, Loans &
27,309.01 21,673.75 18,788.80 15,521.37 8,201.33
Advances
Less: Current Liabilities &
15,758.74 13,656.77 15,317.67 13,198.12 8,932.62
Provisions
Total Net Current Assets 11,550.27 8,016.98 3,471.13 2,323.25 -731.29

Miscellaneous Expenses not


59.48 129.15 215.82 294.93 378.50
written off
TOTAL 26,108.81 21,493.67 16,899.03 16,076.44 13,726.43
Number of Equity shares
413.04 413.04 413.04 413.04 413.04
outstanding [Cr.s]
Bonus component in Equity
0.00 0.00 0.00 0.00 0.00
Capital
Notes:
Book Value of Unquoted
546.02 521.61 296.61 608.32 568.32
Investments
Market Value of Quoted
5.12 4.31 3.33 0.89 0.77
Investments
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 & Loss


Rs. cr
Period and months 2008/03 2007/03 2006/03 2005/03 2004/03
INCOME
Net Operating Income 39,958.67 34,328.77 28,200.48 28,714.30 21,669.54

EXPENSES
Material Consumption 16,821.39 15,963.13 13,903.23 11,155.33 9,315.53
Manufacturing Expenses 3,317.74 2,925.43 2,793.45 2,427.11 2,362.05
Personel Expenses 7,919.28 5,087.76 4,156.97 3,811.75 4,758.49
Selling Expenses 1,143.90 1,066.73 1,108.12 971.78 870.75
Administrative Expenses 1,321.44 1,064.29 1,035.99 780.67 766.73
Capitalised Expenses -1,832.22 -1,423.08 -1,352.05 -921.71 -893.07
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 1,122.59


Other 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 2,356.96


Non-recurring Items 161.90 53.75 45.64 -14.35 143.42
Other 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

APPROPRIATIONS
Equity Dividend 1,528.25 1,280.42 826.08 1,363.03 0.00
Preference Dividend 0.00 0.00 0.00 0.00 0.00
Retained Earnings 16,561.27 11,408.23 6,919.53 5,291.39 -252.85

Half - yearly results


Rs. 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 %

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

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

Total
20,539.90 14,777.87 38.99 18,165.21 16,321.63 11.30 34,922.03 30,164.73 15.77
Expenditure
- -
Interest 104.30 139.00 111.94 146.05 250.94 332.13 -24.45
24.96 23.36

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

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

Extra
Ordinary 0.00 0.00 NA 313.25 0.00 NA 313.25 0.00 NA
Items

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

Prior Year -
30.84 0.00 NA 3.15 31.09 2.70 33.47 -91.93
Adjustment 89.87

Reswritten
0.00 0.00 NA 0.00 0.00 NA 0.00 0.00 NA
Back

Equity
4,130.40 4,130.40 0.00 4,130.40 4,130.40 0.00 4,130.40 4,130.40 0.00
Capital

Res and -
0.00 0.00 NA 18,933.17 13,182.75 43.62 0.00 13,182.75
Surplus 100.00

Key Financial Ratios


2008/03 2007/03 2006/03 2005/03 2004/03
Per Share
EPS 18.25 15.02 9.72 16.50 6.08
CEPS 21.42 18.26 13.08 19.68 9.55
Book Value 55.84 41.92 30.51 24.95 12.20
Dividend/Share 3.70 3.10 2.00 3.30 0.00
Operating Profit / Share 27.28 23.35 15.87 25.40 10.87
Net Operating Income / Share 96.74 83.11 68.28 69.52 52.46
Free Reserves / Share 45.02 30.72 19.02 13.07 -0.29

Profitability Ratios
OPM 28.19 28.09 23.24 36.53 20.71
GPM 25.10 24.56 18.96 32.60 15.53
NPM 18.16 17.38 13.79 23.19 11.39
RONW 31.77 35.34 31.45 66.48 50.58

Liquidity ratios
Debt/Equity 0.13 0.24 0.34 0.55 1.72
Current Ratio 1.73 1.59 1.23 1.18 0.91
Quick Ratio 1.23 1.01 0.72 0.76 0.57
Interest Cover 51.04 33.12 15.92 18.45 5.10

Turn Over Ratios


Sales/Total Assets 3.46 4.28 8.12 12.36 -29.63
Sales/Fixed Assets 2.86 2.67 2.18 2.23 1.60
Sales/Current Assets 1.46 1.58 1.50 1.85 2.64

Miscellaneous
No of Days of Working Capital 104.06 84.07 44.31 29.13 -12.15
CAR 0.00 0.00 0.00 0.00 0.00

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

Capital Structure
Authorised Issued PaidUp
From To Class Of PaidUp Face
Capital Capital Capital
Year Year Share Shares Value
[Cr.s] [Cr.s] [Cr.s]
2007 2008 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
2006 2007 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
2005 2006 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
2004 2005 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
2003 2004 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
2002 2003 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
2001 2002 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
2000 2001 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40
1999 2000 Equity Share 5,000.00 4,130.40 4130400545 10 4,130.40

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