Government proposes merger of Bank of Baroda, Dena Bank and Vijaya Bank under Alternative Mechanism

The state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country's third largest lender after the SBI and ICICI Banks, as part of efforts to revive credit and economic growth. The scheme of amalgamation, which will now be formed, will be laid before Parliament. However, it would require no change in the banking law.



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