Vijaya Depository Fiscal Establishment & Dena Depository Fiscal Establishment Larn Inward Merger Talks

In early on signs of the government’s ambitious innovation for consolidation amidst state-run lenders to assistance them gain efficiency in addition to scale, pocket-size size, state-owned lenders Dena Bank and Vijaya Bank have initiated talks for a possible merger. A possible merger betwixt the 2 relatively smaller Public Sector Banks (PSBs) volition atomic number 82 to formation of a large midsized bank.
Earlier finally month, the Union Cabinet had given an in-principle approving for choice machinery for PSU banks merger. The populace sector banks’ boards volition themselves determine the finally contours of the proposed amalgamation, in addition to volition in addition to thus essay approving from the GoM (Group of Ministers).

The proposed merger betwixt Vijaya Bank in addition to Dena Bank is beingness considered based on both the lenders complimenting each other on their geographical reach, equally Vijaya Bank has rigid presence inward southern India, spell Dena Bank is well-positioned inward Maharashtra in addition to neighbouring states.
Government of Republic of Republic of India holds 68.56% stake inward Dena Bank in addition to 70.33% stake inward Vijaya Bank (as on xxx June 2017). If the talks are successful in addition to the proposals instruct government’s nod, the merger could live on completed yesteryear halt of this fiscal.
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