Dena Bank, Vijaya Bank and Bank of Baroda to merge

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*Govt Announces📢 Merger of Dena Bank, Vijaya Bank & Bank of Baroda🏛*

Financial Services Secretary Rajiv Kumar today announced the plans to merge three national banks - Dena Bank, Vijaya Bank and Bank of Baroda.

The Amalgamated bank would be the 3rd largest in India.

"Boards of the three banks will examine amalgamation proposal", secretary of the Department of Financial Services, Rajeev Kumar, said.
"The banking sector needs reforms and the government is taking care of banks' capital needs."

He also stated that the rationalisation of overseas operation in banking sector is in full swing and that the government is keen to take steps so that history isn't repeated as far as NPAs are concerned.
 
Very good. There are too many public sector banks in my opinion. Dena Bank and Vijaya Bank have very few customers and replacing them with the more well-known Bank of Baroda brand will make sense.
 
Wrost decision by govt ...private banks and private finance only benefited....new jobs reduced.....indian economy easily going to private hands....govt banks not failures ...govt policy only failures.private banks lending and earning money.but public sec bank employee doing apy, jandhan , accounts...
 
It would be better to merge Vijaya bank with Canara bank as both are Bangalore based. Syndicate bank and Corporation bank can also be merged to this.
 
I think Canara & Oriental Bank of Commerce will be next to merge.
 
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