Govt To Merge Banking Corporation Of Baroda, Dena Banking Corporation Together With Vijaya Bank

As business office of it’s efforts to construct clean upward the Indian Banking system, the authorities today announced that it is going to merge 3 overstep Indian state-owned banks, Bank of Baroda (BoB), Vijaya Bank and Dena Bank to brand a unmarried bank. This unmarried banking entity volition give-up the ghost India’s 3rd argest bank. 
Announcing the plan, Union finance government minister Arun Jaitley said the merger volition brand the banks stronger together with sustainable likewise every bit increase their lending ability. The deed follows overstep lender State Bank of Bharat final yr merging amongst itself 5 of its subsidiary banks together with taking over Bharatiya Mahila Bank, a niche state-run lender for women.

The amalgamated depository fiscal establishment would survive the 3rd largest depository fiscal establishment inwards Bharat together with volition survive rigid competitive lender amongst economies of scale. The authorities volition proceed to render upper-case missive of the alphabet back upward to the merged bank.

Important Points to Note nearly the Merged Bank :
  • The merged depository fiscal establishment volition convey an advances base of operations of Rs 6.4 lakh crore
  • It volition convey a deposit base of operations of Rs 8.41 lakh crore
  • In absolute terms, the gross not performing assets volition survive at or then Rs 80,000 crore
  • That suggests that the gross NPA ratio volition run out to survive nearly xiii percent.
Will this merger touching on Employees ?
As per the contention of the Secretary Department of Financial Services, Rajeev Kumar, the employees involvement would survive protected inwards the merger process. The merger of 5 SBI associate banks was done without whatever project losses, he said. The 3 banks volition proceed to run independently postal service merger.

Some Important Parameters nearly BOB, Vijaya, Dena Banks together with Merged Entity

sponsored links

Leave a Reply