Yak Vijaya Banking Concern & Dena Banking Concern Function Into Merger Talks

In early on signs of the government’s ambitious invention for consolidation alongside state-run lenders to assistance them gain efficiency together with scale, modest size, state-owned lenders Dena Bank and Vijaya Bank have initiated talks for a possible merger. Influenza A virus subtype H5N1 possible merger betwixt the 2 relatively smaller Public Sector Banks (PSBs) volition Pb to formation of a large midsized bank.

Earlier lastly month, the Union Cabinet had given an in-principle blessing for choice machinery for PSU banks merger. The populace sector banks' boards volition themselves determine the lastly contours of the proposed amalgamation, together with volition thence attempt blessing from the GoM (Group of Ministers).

The proposed merger betwixt Vijaya Bank together with Dena Bank is beingness considered based on both the lenders complimenting each other on their geographical reach, equally Vijaya Bank has rigid presence inwards southern India, acre Dena Bank is well-positioned inwards Maharashtra together with neighbouring states.

Government of Republic of Republic of India holds 68.56% stake inwards Dena Bank together with 70.33% stake inwards Vijaya Bank (as on xxx June 2017). If the talks are successful together with the proposals larn government's nod, the merger could live completed yesteryear terminate of this fiscal.

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