Six public sector banks will cease to exist after mega-merger comes into effect on April 1
The new financial year is set to begin on Wednesday (April 1) and this year this day is significant because it will witness see the merger of six public sector banks into four (anchor banks).
Apr 01, 2020, 10:00 AM IST
After banks, govt may recapitalise PSU insurers prior to restructuring
Sources in the Finance Ministry said that management consultancy firm Ernst & Young (EY) has been shortlisted to advise on restructuring of three general insurers and based on its report, the government may also consider providing capital support to the companies.
Jul 10, 2019, 12:35 PM IST
RBI reshuffles lead bank responsibilities post banks merger
Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda has been notified on January 2, 2019.
Apr 02, 2019, 11:11 AM IST
Morning Breaking: Cabinet approves merger of Vijaya Bank, Dena Bank & Bank Of Baroda
The Cabinet Committee on Economic Affairs (CCEA) has approved the merger of state-run Vijaya Bank, Bank of Baroda and Dena Bank. This marks the first-ever three-way merger in the country's banking sector.
Jan 03, 2019, 08:36 AM IST
Merger of BoB, Vijaya, Dena Bank to improve efficiency, governance: Moody's
The government Monday proposed the merger of the three state-owned banks to create the country's third largest lender as part of efforts to revive credit and economic growth.
Sep 18, 2018, 12:10 PM IST
Govt to initiate banks' consolidation process after Q1 numbers
There are factors like regional balance, geographical reach, financial burden and smooth human resource transition that have to be looked into while taking a merger decision, the official said, adding that there should not be merger of a very weak bank with a strong one as it could pull the latter down.
Aug 09, 2017, 17:59 PM IST
Not considering any proposal for merger with United Bank: IDBI Bank
State-owned IDBI Bank has said it is not considering any proposal to merge Kolkata-based United Bank of India with itself.
Jul 29, 2014, 10:50 AM IST
