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Proposal for merger of Banks
September 20 , 2018
2129 days
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- The Central government proposed the amalgamation of State-owned Bank of Baroda, Dena Bank and Vijaya Bank to create India’s third largest bank.
- The new merged entity will be the 3rd Largest bank in the country with a total business of about Rs 14.82 lakh crore, after SBI and HDFC bank.
- The “merger” is carried out as part of
- The “Alternative mechanism” proposed by the committee under finance minister Arun Jaitley.
- The reforms in the public sector banking segment.
- With this merger, the number of public sector banks in the country will come down to 19.
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