September 23, 2019 6:14 pm
There’s no need to panic if your bank has been merged with another. However, keep these crucial pointers in mind to avoid any issues later.
September 02, 2019 5:21 am
In the early phase of the UPA government’s first term between 2004 and 2009, the Finance Ministry headed by P Chidambaram was pushing hard for consolidation of state-owned banks.
September 02, 2019 5:38 pm
The plan is to merge 10 state-owned banks into four larger ones. What led to the move, how is it intended to help the banks and the government, and what are the potential downsides?
September 01, 2019 5:20 pm
The state-owned banks can now look forward to efficiency gain, higher profit, better services to customers and also more benefits to their employees, Rajiv Kumar said.
September 01, 2019 6:18 pm
“There is no closure of banks. No banks are being asked to do anything different from what they were doing. In fact, we are giving them more capital to do what they were doing,” Nirmala Sitharaman said at a press conference.
August 31, 2019 2:10 am
In fact, the three-way merger of Dena Bank and Vijaya Bank with Bank of Baroda took over six months to come into effect. While the government first proposed the merger of the banks in September 2018, the merger came into force on April 1, 2019.
September 29, 2018 10:44 pm
Earlier in September, the government announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank to create the country's second-largest PSU lender by assets and branches.