Allahabad Bank to lose its 154-year-old identity

On Friday, Finance Minister Nirmala Sitharaman announced the merger of Indian Bank and Allahabad Bank to create the 7th largest public sector bank in India which has come as a setback for the residents of Allahabad.

Prayagraj: The announcement made by the Finance Minister Nirmala Sitharaman on Friday regarding the merger of Indian Bank and Allahabad Bank has come as a setback for the people of Prayagraj.

Allahabad Bank's 154-year-old identity will now come to an end not only in the country but also abroad.

Allahabad Bank was founded in 1865 at Allahabad, making it one of the oldest bank of India.

"The Allahabad bank got its name as 'Allahabad' as it was founded by 'Allahabadis', despite having its headquarters in Kolkata," told Baba Abhay Awasthi, an old bank consumer.

"It's unfortunate that the government has decided to take this step. The closing of small bank branches will have a negative impact and may even result in loss of jobs. Some historic places or institutions which tell stories of the past should be preserved," added Awasthi.

Until now the recent change of name of the city remained an issue for the residents and now the announcement of the merger of Indian Bank and Allahabad Bank has made the people of Allahabad upset.