CONTEXT:

• State-owned Allahabad Bank said the government has increased its authorized capital by ₹5,000crore to ₹8,000 crore.
• The central government increased the authorized capital of the bank from ₹3,000 to ₹8,000 through Gazette Notification.
• The increase in authorized capital will help enable the bank to raise further fund up to a maximum ceiling of ₹8,000 crore.