- Current Affairs 1st April 2019. The Cabinet approved the merger of Vijaya Bank and Dena Bank with Bank of Baroda. Due to this amalgamation, BoB becomes 2nd Largest PSU Bank in India after State Bank of India (SBI).
- All branches of Vijaya Bank and Dena Bank will function as branches of the Bank of Baroda from April 1, 2019. Customers, including depositors of Vijaya Bank and Dena Bank, will be treated as customers of Bank of Baroda with effect from April 1, 2019.
- Bank of Baroda now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
- This is the 2nd merger of state-run banks in recent years in the banking sector after SBI had merged 5 of its associate banks from April 2017.
Published On : 01 Apr 2019
Current Affair
