Cabinet approves merger of Vijaya Bank, Dena Bank into Bank of Baroda

Published: Jan 3, 2019, 7:28 am IST

The Union Cabinet on Wednesday cleared the merger of Bank of Baroda, Vijaya Bank and Dena Bank.
The Bank of Baroda would be the transferee bank while Vijaya Bank and Dena Bank would be transferor banks, Union Minister Ravi Shankar Prasad told   after the Cabinet meet.
Prasad said the merger would come into force from new financial year April 1, 2019.