The government has proposed amalgamation of Bank of Baroda, Vijaya Bank, and Dena Bank to create India’s 3rd largest globally competitive Bank. Finance Minister Arun Jaitley announced that the amalgamation will increase the banking operations and no employee will face any service condition adverse to present conditions.
The government had announced in the budget that consolidation of banks was also in the agenda of the government. Earlier, the government had merged five subsidiaries of SBI into State Bank of India.
Source- The Hindu
Static/Current Takeaways Important for Indian Bank PO Exam 2018-
- Bank of Baroda Headquarters in Vadodara.
- Vijaya Bank Headquarters in Bengaluru.
- Dena Bank Headquarters in Mumbai.