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Bank of Baroda, Vijaya Bank, Dena Bank to be merged: Government

Bank of Baroda, Vijaya Bank, Dena Bank to be merged: Government

India Blooms News Service | @indiablooms | 17 Sep 2018, 01:21 pm

New Delhi, Sept 17 (IBNS): Announcing a major development, the Centre on Monday said  Dena Bank, Vijaya Bank and Bank Of Baroda will be merged.

Speaking at a press conference, Financial Services Secretary Rajiv Kumar said: "We have decided to merge Dena Bank, Vijaya Bank and Bank of Baroda."

He said the merger of the banks will make this the third largest bank of the country.

Union Finance Minister Arun Jaitley said this was the first step as consolidation of banks was present in the agenda of the government as mention in its budget announcement.

"No employee will face any service conditions which are adverse in nature. The best of the service conditions will apply to all of them," Jailtey said.