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Bank of Baroda, Dena Bank and Vijaya Bank to be Merged
October 03, 2018
The government has announced a merger of the three public sector banks- Bank of Baroda, Dena Bank, and Vijaya Bank to create the country’s third-largest lender. The boards of these banks are currently going over the proposal and expected to hold a meeting to take the decision shortly.
The merger was proposed by finance minister Arun Jaitley, and cabinet ministers Nirmala Sitharaman and Piyush Goyal to create a mega bank that’s more sustainable and has a higher lending ability.
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