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

As role of it's efforts to construct clean upwardly the Indian Banking system, the authorities today announced that it is going to merge 3 come about Indian state-owned banks, Bank of Baroda (BoB), Vijaya Bank and Dena Bank to brand a unmarried bank. This unmarried banking entity volition expire India's 3rd argest bank. 

Announcing the plan, Union finance government minister Arun Jaitley said the merger volition brand the banks stronger as well as sustainable likewise every bit growth their lending ability. The deed follows come about lender State Bank of Republic of Republic of India terminal twelvemonth merging amongst itself v of its subsidiary banks as well as taking over Bharatiya Mahila Bank, a niche state-run lender for women.

The amalgamated banking concern would endure the 3rd largest banking concern inward Republic of Republic of India as well as volition endure rigid competitive lender amongst economies of scale. The authorities volition proceed to render upper-case missive of the alphabet back upwardly to the merged bank.

Important Points to Note almost the Merged Bank :

• The merged banking concern 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 endure at some Rs 80,000 crore
• That suggests that the gross NPA ratio volition move out to endure almost thirteen percent.

Will this merger behave on Employees ?

As per the tilt of the Secretary Department of Financial Services, Rajeev Kumar, the employees involvement would endure protected inward the merger process. The merger of v SBI associate banks was done without whatever project losses, he said. The 3 banks volition proceed to move independently post service merger.

Some Important Parameters almost BOB, Vijaya, Dena Banks as well as Merged Entity

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