Government to merge BoB, Vijaya and Dena to create new banking giant
On Monday the 17th, the government of India declared the merger of three state-run banks to create a new banking giant. These three banks are the Bank of Baroda, Vijaya Bank and the Dena Bank. This merger shall lead to the creation of India’s third-largest lender. After years of discussion, this step has finally commenced a consolidation in the nationalised banking space. The ministerial panel that came to the decision included Union Finance Minister, Arun Jaitley, Railway Minister, Piyush Goyal and Defence Minister, Nirmala Sitharaman. Finance services secretary, Rajiv Kumar…
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