The Central government proposed the amalgamation of State-owned Bank of Baroda, Dena Bank and Vijaya Bank to create India’s third largest bank as part of reforms in the public sector banking segment.
The proposal will now need the approval of the boards of these individual banks. The banks’ boards will shortly meet and take up the decision.
The decision was taken at a meeting of a ministerial panel headed by Union Finance Minister Arun Jaitley that oversees merger proposals of State-owned banks. Its other members are Railway Minister Piyush Goyal and Defence Minister Nirmala Sitharaman.
In this Occasion Jaitley says the merger will make the banks stronger and sustainable as well as increase their lending ability.
The merger of these three state-owned banks is a part of the government’s agenda of consolidation of public sector banks. The consolidation was proposed by the Alternative Mechanism [AM].
The Union Cabinet in August 2017 approved amalgamation of Public Sector Banks through Alternative Mechanism (AM) with an aim to facilitate consolidation among the Nationalized Banks to create strong and competitive banks.
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1. Gadkari to lay Foundation Stones of 9 NH projects in Tripura tomorrow Union Minister for Road Transport, Highways and MSMEs Shri Nitin Gadkari will lay the foundation stones of nine National Highway projects with a total length of nearly 262 kms worth over Rs 2752 crore in Tripura tomorrow. The event will be presided-over by Chief Minister Shri Biplab Kumar Deb, in the presence of Union MoSs Dr Jitendra Singh and Gen (Retd) Dr V K Singh, Ministers from the State, Members of Parliaments, MLAs and senior officers from the Centre and the State.
The Projects, on comp
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USD 360 million net new TCV wins in Direct business, highest ever TCV win for a quarter
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While addressing the participants S
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The helpline operates in
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Odisha, Andhra Pradesh &Telangana
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Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), an autonomous institute under the Department of Science and Technology (DST), Govt
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UCO Bank, a leading listed Public Sector Bank having headquartered in Kolkata invites Online applications in the prescribed format for recruitment to the various government job vacancy posts in Specialized category in JMG Scale-I and MMG Scale-II in the Specialist Officer cadre in various specialist disciplines.
Specialist Officer Recruitment in UCO Bank 2020