Allahabad Bank's chairman & managing director retires

capital market | Mumbai |

At the close of business hours on 31 August 2012

J P Dua, chairman & managing director of Allahabad Bank has retired from the bank's services as at the close of business hours on 31 August 2012. As such J P Dua will cease to be the director of the bank with effect from 01 September 2012.

Further, the Govt. of India, Ministry of Finance, Department of Financial Services vide its Notification No. 4/4/2011 - BOI dated 30.08.2012 has notified that the financial and administrative powers of chairman and managing director shall be exercised by T R Chawla and Arun Tiwari, both executive directors of the bank, with the approval of the board of directors/management committee of the board as the case may be till such time a regular incumbent is appointed by the Government of India as chairman and managing director of the bank.

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