The govt. has decided to merge Bank of Baroda (BoB), Vijaya Bank and Dena Bank.
The amalgamation of these state-owned banks will create India’s third largest bank.
The govt. will now await the response of the banks on the proposal.
The govt. will protect employee interests and will ensure that brand equity is preserved.
The govt. has said that the merged bank will be a strong competitive bank with economies of scale.
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