Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations
5 years, 9 months ago

Supreme Court refuses to stay merger of Vijaya, Dena Bank with Bank of Baroda, dismisses applications by bank officers' associations

Firstpost  

The proposed amalgamation will make Bank of Baroda the second largest public sector bank after State Bank of India New Delhi: Clearing decks for the scheduled merger of three public sector lenders—Vijaya Bank, Dena Bank and Bank of Baroda—the Supreme Court on Thursday refused to stay the amalgamation. The proposed amalgamation will make Bank of Baroda, which will merge the other two lenders with itself, the second largest public sector bank after State Bank of India in place of Punjab National Bank. At the outset, senior advocate Shyam Divan, appearing for bank officers associations, said that there were several flaws in the decision taken for merger of three banks as there was no effective consultation or concurrence with the Reserve Bank of India on the issue. Solicitor General Tushar Mehta, appearing for Union of India also opposed the plea of bank officers and said it was a purely an economic policy decision taken by the government for which detailed consultation has taken place.

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History of this topic

India: Centre rules out new PSU bank mergers
1 month, 1 week ago

India: Centre rules out new PSU bank mergers

Deccan Chronicle  

New Delhi: The Centre may not consider merger of public sector banks as several reforms undertaken by the government in the banking sector have created systemic improvements and instituted checks and controls to minimise the risk of recurrence of excessive stress, the government said on Tuesday. “The reforms undertaken by the government in the banking sector have created systemic improvements …

Government may introduce amendments to laws to push banking sector reforms in Budget session
5 months, 4 weeks ago

Government may introduce amendments to laws to push banking sector reforms in Budget session

The Hindu  

The government is likely to introduce amendments to Banking Regulation Act 1949 and other laws to push banking sector reforms during the upcoming Budget session. Apart from this, amendments in the Banking Companies Act, 1970, and the Banking Companies Act, 1980 are needed for privatisation of public sector banks, sources said. Amendments, if approved by Parliament, would help bring down …

Supreme Court Issues Notice On RBI's Plea Against Merger Of Malappuram District Cooperative Bank With Kerala Bank, Orders Status Quo
7 months, 3 weeks ago

Supreme Court Issues Notice On RBI's Plea Against Merger Of Malappuram District Cooperative Bank With Kerala Bank, Orders Status Quo

Live Law  

The Supreme Court on Friday issued notice on a petition filed by the Reserve Bank of India challenging the amalgamation of the Malappuram District Cooperative Bank in Kerala with the Kerala State Cooperative Bank.While issuing notice, the Court also directed to maintain status quo in all aspects in respect of the Malappuram District Cooperative Bank." The Supreme Court on Friday …

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman
11 months ago

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman

Live Mint  

New Delhi: India needs more “SBI-size” banks to meet the growing needs of the economy and industry, particularly as the country aspires to grow to be the world’s third-largest economy, finance minister Nirmala Sitharaman said. In an interview with Mint, the finance minister said the country needs to create an atmosphere so larger overseas banks can enter India, and more …

Cooperative Society Can't Claim Citizen's Fundamental Rights : Kerala High Court Upholds Ordinances Merging District Cooperative Banks
3 years, 8 months ago

Cooperative Society Can't Claim Citizen's Fundamental Rights : Kerala High Court Upholds Ordinances Merging District Cooperative Banks

Live Law  

The Kerala High Court on Wednesday upheld Ordinances amending the Kerala Cooperative Society Act to merge District Cooperative Banks in the state with the Kerala State Cooperative Bank. Agricultural Credit Cooperative Societies,service co-operative banks, Regional Co-operative Banks, Rural Banks, Farmers Service Co-operative Banks at the primary level, District Cooperative bank for each districts, and Kerala State Cooperative Bank at the …

Centre likely to bring amendments to two legislations to facilitate privatisation of PSU banks
3 years, 10 months ago

Centre likely to bring amendments to two legislations to facilitate privatisation of PSU banks

Firstpost  

New Delhi: To facilitate the privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. Finance Minister Nirmala Sitharaman while presenting Budget 2021-22 earlier this month had announced the privatisation of Public Sector Banks as part of disinvestment drive to garner Rs 1.75 lakh crore. “Other than IDBI Bank, we propose to …

Govt to amend two Acts to enable privatisation of PSU banks
3 years, 10 months ago

Govt to amend two Acts to enable privatisation of PSU banks

India TV News  

To facilitate privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. The ongoing Budget session is scheduled to take up as many as 38 Bills including the Finance Bill 2021, Supplementary Demands for Grants for 2020-21 and related Appropriation Bill, National Bank for Financing Infrastructure and Development Bill, 2021, and Cryptocurrency …

Plea in HC against Lakshmi Vilas Bank-DBS merger
3 years, 11 months ago

Plea in HC against Lakshmi Vilas Bank-DBS merger

Hindustan Times  

A plea in the Delhi High Court has challenged the scheme of amalgamation of Lakshmi Vilas Bank with Development Bank of Singapore, contending that its shareholders have been "left in the lurch" and the Centre and the Reserve Bank have failed to protect their interests. The petition was listed before a bench of Chief Justice D N Patel and Justice …

LVS-DBS Merger: Supreme Court Issues Notice On RBI's Plea Seeking Transfer & Stay On Petitions Across High Courts
4 years ago

LVS-DBS Merger: Supreme Court Issues Notice On RBI's Plea Seeking Transfer & Stay On Petitions Across High Courts

Live Law  

The Supreme Court on Friday issued notice on the RBI's plea, seeking transfer of five writ petitions pending before the High Courts of Madras, Delhi, Karnataka and Bombay challenging the Lakshmi Vilas Bank Limited Scheme, 2020.A bench of Justice Mohan M. Shantangoudar also issued notice on the stay applications, directing it to be returnable within. The Supreme Court on Friday …

A final push for the entry of corporate players in banking
4 years, 1 month ago

A final push for the entry of corporate players in banking

The Hindu  

Areport of an internal working group set up by the Reserve Bank of India has revived the discussion on the wisdom of allowing the entry of corporate players, including large business groups, into India’s banking space. Although the process of licensing a new generation of private banks began in 1993, primarily non-financial corporate entities have been eligible under the RBI’s …

Bombay High Court Refuses To Stay RBI Scheme For Lakshmi Vilas Bank Merger With DBS Bank
4 years, 1 month ago

Bombay High Court Refuses To Stay RBI Scheme For Lakshmi Vilas Bank Merger With DBS Bank

Live Law  

The Bombay High Court on Thursday rejected a prayer for ad-interim stay on Reserve Bank Of India's amalgamation scheme for the merger of Lakshmi Vilas Bank with the DBS Bank approved by the Union Cabinet, in a plea filed by shareholders of Lakshmi Vilas Bank. Senior Advocate Darius Khambata appeared on behalf of the petitioners, he submitted that the first …

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
4 years, 9 months ago

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

Firstpost  

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday New Delhi: The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday. …

PSB mergers the new hurdle for resolutions under IBC
4 years, 9 months ago

PSB mergers the new hurdle for resolutions under IBC

Live Mint  

The approaching deadline for the merger of small public sector banks with their larger counterparts is slowing down resolution of cases under the Insolvency and Bankruptcy Code. While small state-run banks generally have limited influence in lender committees of large assets, in cases where they have a substantial say, key decisions on resolution are being postponed until the ongoing mergers …

Vijaya Bank, Dena bank removed from second schedule of RBI Act
5 years, 1 month ago

Vijaya Bank, Dena bank removed from second schedule of RBI Act

India TV News  

The Reserve Bank of India on Thursday said it has excluded Vijaya Bank and Dena Bank from the second schedule of the RBI Act, with effect from April 1, 2019. "Vijaya Bank and Dena Bank have been excluded from the second schedule to the Reserve Bank of India Act, 1934 with effect from April 1, 2019, since they have ceased …

Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI
5 years, 2 months ago

Over 3,400 branches of 26 public sector banks closed or merged in last 5 years: RTI

Firstpost  

Over 3,400 branches of 26 public sector banks have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query Indore: Over 3,400 branches of 26 public sector banks have been either closed or merged during the last five financial years due to merger under …

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
5 years, 3 months ago

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April

Firstpost  

The complete harmonisation among the three entities would take another 12 to 14 months after the merger Kolkata: A total of 34 functional teams have been formed to smoothen the process of merger of United Bank of India, Punjab National Bank and Oriental Bank of Commerce, a senior official said. “The functional teams will also try standardising the loan process, …

34 functional teams to smoothen merger of UBI, PNB, OBC
5 years, 3 months ago

34 functional teams to smoothen merger of UBI, PNB, OBC

India TV News  

A total of 34 functional teams have been formed to smoothen the process of merger of United Bank of India, Punjab National Bank and Oriental Bank of Commerce, a senior official said. "Thirty four functional teams have been created to come out with solutions for the process of integration," a UBI official told PTI. "The functional teams will also try …

No concern to asset quality post UBI, OBC merger: PNB CEO
5 years, 3 months ago

No concern to asset quality post UBI, OBC merger: PNB CEO

India TV News  

The Punjab National Bank, which is the anchor bank for a scheduled merger with the United Bank of India and the Oriental Bank of Commerce, has said that it does not see any erosion in asset quality after the merger and the best HR, process and products will be chosen for the consolidated entity to offer a win-win situation for …

RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das
5 years, 3 months ago

RBI to ensure mega bank mergers non-disruptive, central bank in discussion with govt: Shaktikanta Das

Firstpost  

The Reserve Bank of India is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das said on Friday Mumbai: The Reserve Bank of India is in discussions with the government to ensure that the mega bank merger process is carried out in a non-disruptive, governor Shatikanta Das …

Boards of Corporation Bank, Allahabad Bank give in-principal approval for respective merger plans
5 years, 3 months ago

Boards of Corporation Bank, Allahabad Bank give in-principal approval for respective merger plans

Firstpost  

New Delhi: Corporation Bank on Monday said the board has given its in-principle approval for the merger with Union Bank of India. “The board of directors in its meeting held on 16 September, 2019 has given in-principle approval for the amalgamation of the Corporation Bank into Union Bank of India,” it said in a regulatory filing. Earlier on 9 September, …

Strike call given by bank officers' union may affect normal business at branches: SBI
5 years, 3 months ago

Strike call given by bank officers' union may affect normal business at branches: SBI

Firstpost  

New Delhi: The State Bank of India on Monday said the operations of the bank could be affected if the two-day strike call given by officers’ unions materialises. The bank has been advised by Indian Banks’ Association that the All India Bank Officers’ Confederation, All India Bank Officers’ Association, Indian National Bank Officers’ Congress and National Organisation of Bank Officers …

Union Bank of India board meet on 9 September to approve amalgamation of Andhra Bank, Corporation Bank with itself
5 years, 4 months ago

Union Bank of India board meet on 9 September to approve amalgamation of Andhra Bank, Corporation Bank with itself

Firstpost  

New Delhi: State-owned Union Bank of India on Wednesday said its Board will meet on 9 September to approve amalgamation of Andhra Bank and Corporation Bank with itself. Besides, the board would also take up the matter related to capital infusion of Rs 11,700 crore, Union Bank of India said in a regulatory filing. In a separate filing, United Bank …

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?
5 years, 4 months ago

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?

Firstpost  

For better understanding, let’s look at the share movement of the acquiring banks or the anchor banks involved in the merger process. In the two trading sessions after the big bank merger announcement, the public sector banks have lost a combined market cap of close to Rs 11,000 crore. Among others, United of Bank of India has a net NPA …

Watch | Merger of public sector banks
5 years, 4 months ago

Watch | Merger of public sector banks

The Hindu  

In what comes as the second wave of the government’s efforts to revive the economy, Finance Minister Nirmala Sitharaman on Friday announced a slew of banking reform measures, including merger of 10 public sector banks into four entities. This would take the number of banks in the country from 27 in 2017 to 12, Ms. Sitharaman said. These bank mergers, …

Indian Bank expects to complete merger with Allahabad Bank by 31 March: Managing Director Padmaja Chunduru
5 years, 4 months ago

Indian Bank expects to complete merger with Allahabad Bank by 31 March: Managing Director Padmaja Chunduru

Firstpost  

New Delhi: State-owned Indian Bank expects to complete the merger with Allahabad Bank by the end of current fiscal, a top official said. Last week, the government announced the consolidation of 10 public sector banks into four mega state-owned lenders, including the merger of Allahabad Bank with Indian Bank. I expect that all the process should ideally be over by …

Indian Bank expects to complete merger with Allahabad Bank by March 31
5 years, 4 months ago

Indian Bank expects to complete merger with Allahabad Bank by March 31

India TV News  

State-owned Indian Bank expects to complete the merger with Allahabad Bank by the end of current fiscal, a top official said. Last week, the government announced consolidation of 10 public sector banks into four mega state-owned lenders, including merger of Allahabad Bank with Indian Bank. Indian Bank last week received a communication from Ministry of Finance that the Alternative Mechanism …

Bank merger: Officers associations to meet in Delhi on September 5
5 years, 4 months ago

Bank merger: Officers associations to meet in Delhi on September 5

India TV News  

Opposing the merger of banks, officers associations of various banks will meet in the national capital on September 5 to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday. Finance Minister Nirmala Sitharaman last week announced the merger of Oriental Bank of Commerce and United Bank with Punjab …

Mixed reactions from brokerage firms on banking merger
5 years, 4 months ago

Mixed reactions from brokerage firms on banking merger

India TV News  

Brokerage firms on Tuesday said that by and large the consolidation in the banking sector is a positive move, yet it can weigh on the merging entities in the near term. State Bank of India, Bank of Baroda and leading private sector banks would edge the merging banks to be in a stronger position. Kotak Securities said: "Our thesis remains …

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September
5 years, 4 months ago

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September

Firstpost  

Hyderabad: Opposing the merger of banks, officers associations of various banks will meet in the national capital on 5 September to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday. Finance Minister Nirmala Sitharaman last week announced the merger of Oriental Bank of Commerce and United Bank with …

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September
5 years, 4 months ago

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September

Firstpost  

Finance Ministry has decided that PNB, OBC and UBI may consider the amalgamation of OBC and UBI into PNB New Delhi: The Punjab National Bank on Monday said the board will consider capital infusion of up to Rs 18,000 crore in its meeting later this week. “The board shall consider capital infusion up to Rs 18,000 crore in its meeting …

Opinion | Bank mergers are no silver bullet for India
5 years, 4 months ago

Opinion | Bank mergers are no silver bullet for India

Live Mint  

With every passing day, India’s economic indicators are turning a little bleaker. Thus, one of the few areas where there’s new investment may be affected, especially with a sharp rise in debt levels of the government agency that gives out the contracts. State Bank of India, the largest lender, will require ₹15,000 crore in the current fiscal year, according to …

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar
5 years, 4 months ago

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar

Firstpost  

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders New Delhi: The government’s decision to consolidate 10 public sector banks into four mega state-owned lenders will act as a building block for achieving $5 trillion economy target, Finance Secretary Rajiv Kumar has …

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman
5 years, 4 months ago

There will not be a single job loss due to merger of banks, assures Nirmala Sitharaman

Firstpost  

The merger of banks will bring down the number of state-run banks to 12 from 19 after the merger of Dena Bank and Vijaya Bank with Bank of Baroda effective April 2019. Chennai: Finance Minister Nirmala Sitharaman on 1 September allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be …

There will not be single job loss due to merger of banks: FM Sitharaman
5 years, 4 months ago

There will not be single job loss due to merger of banks: FM Sitharaman

Live Mint  

Chennai: Finance minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. The move will bring down the number of state-run banks to 12 from 19 after the merger of Dena Bank and Vijaya Bank with Bank of Baroda effective April …

Will bank mergers result in job losses? Nirmala Sitharaman rules it out
5 years, 4 months ago

Will bank mergers result in job losses? Nirmala Sitharaman rules it out

India TV News  

Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. Sitharaman on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as the government looked …

PNB board to meet on 5 September to consider merger with OBC, United Bank
5 years, 4 months ago

PNB board to meet on 5 September to consider merger with OBC, United Bank

Live Mint  

New Delhi: Punjab National Bank on Saturday said its board of directors will meet on 5 September to consider the lender's merger with Oriental Bank of Commerce and United Bank of India. In a BSE filing, Punjab National Bank said "the meeting of board of directors of the bank is scheduled to be held on 5th September, 2019" for considering …

All India Bank Employees Association opposes government's bank merger
5 years, 4 months ago

All India Bank Employees Association opposes government's bank merger

India TV News  

The real agenda of the government in merging banks is to help big corporates as consolidation of the banks will not result in recovery of huge bad loans, said a top official of the All India Bank Employees' Association. Opposing the merger of 10 public sector banks into four, C. H. Venkatachalam, General Secretary of AIBEA, in a statement issued …

Banks merger reflects govt resolve to address economic slowdown: India Inc
5 years, 4 months ago

Banks merger reflects govt resolve to address economic slowdown: India Inc

India TV News  

The government's move to consolidate public sector banks indicates its resolve to address the slowdown in GDP growth, as the country's economy expanded at its weakest pace in over six years in the April-June quarter of 2019-20, the industry said on Friday. A sharp deceleration in manufacturing output and subdued farm sector activity pulled down India's gross domestic product growth …

Merger can't tackle issues of low capital,higher NPAs:Analysts
5 years, 4 months ago

Merger can't tackle issues of low capital,higher NPAs:Analysts

India TV News  

Even though the mega-merger of 10 public sector banks is a step in the right direction as it will increase operational efficiencies of the merged entities, the key issues of low capital and higher bad loans will continue to plague them, say analysts. Amidst the growing signs of deepening slowdown, finance minister Nirmala Sitharaman Friday announced four new set of …

Govt unveils mega bank mergers to revive growth from 5-yr low
5 years, 4 months ago

Govt unveils mega bank mergers to revive growth from 5-yr low

India TV News  

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as it looks to boost economic growth from a five-year low. Finance Minister Nirmala Sitharaman, who had last week announced tax sops and measures for sectors such as auto, announced four new set …

What will change, what won’t for account holders as 10 PSU banks are merged into 4
5 years, 4 months ago

What will change, what won’t for account holders as 10 PSU banks are merged into 4

Hindustan Times  

Finance Minister Nirmala Sitharaman on Friday announced a slew of PSU bank mergers as part of consolidation efforts and said, “We want banks with strong national presence and enhanced risk appetite.” Finance Minister Nirmala Sitharaman during a media briefing on the Gross Domestic Product Index at the National Media Centre in New Delhi on Friday. The banks mergers announced by …

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities
5 years, 4 months ago

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities

Firstpost  

After the bank merger, only 12 PSBs will be left in India from the 27 earlier After the announcement of the foreign direct investment, in a major reform measure, the Central government on Friday amalgamated 10 public sector banks into four entities, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders …

Govt announces sweeping governance reforms for PSU bank boards
5 years, 4 months ago

Govt announces sweeping governance reforms for PSU bank boards

Live Mint  

The government on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India to create the second-largest banking network in the country with 11,431 branches. "Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of …

10 public sector banks to be merged into four
5 years, 4 months ago

10 public sector banks to be merged into four

Live Mint  

Finance Minister Nirmala Sitharaman today announced a big consolidation of public sector banks: 10 public sector banks to be merged into four. In place of 27 public sector banks in 2017, now there will be 12 public sector banks after the latest round of consolidation of PSU banks. The government also announced capital infusion totalling over ₹55,000 crore into public …

Modi govt's mega bank merger drive: Now there will be only 12 PSU banks
5 years, 4 months ago

Modi govt's mega bank merger drive: Now there will be only 12 PSU banks

India Today  

In second set of major policy announcements to address economic concerns, Union Finance Minister Nirmala Sitharaman on Friday announced merger of six public sector banks with four better performing anchor banks. NEW PICTURE OF PSU BANKS 1) The after the Oriental Bank of Commerce and United Bank are merged into the Punjab National Bank, it will become India's second largest …

Need to tap foreign capital to accelerate growth to 8%: Chief Economic Adviser KV Subramanian
5 years, 5 months ago

Need to tap foreign capital to accelerate growth to 8%: Chief Economic Adviser KV Subramanian

Firstpost  

New Delhi: Chief Economic Adviser KV Subramanian on Tuesday said there is a need to tap foreign capital to accelerate growth from the current level of 7 percent to 8 percent. In order to grow at 8 percent, we do need to trigger this and, therefore, foreign capital is something that has to be encouraged,” he said. BoB, the second-largest …

Budget likely to spell out roadmap for banking sector reforms, consolidation
5 years, 7 months ago

Budget likely to spell out roadmap for banking sector reforms, consolidation

Live Mint  

New Delhi: The Union Budget for 2019-20 is likely to spell out roadmap for banking reforms, including consolidation of the state-owned lenders, with a view to enable the sector to play a pivotal role in pushing India towards $5 trillion economy, sources said. The banking sector has an important role in the reinvigorating sagging economy, the sources said, adding the …

Merger impact: Bank of Baroda looks to rationalise 800-900 branches
5 years, 7 months ago

Merger impact: Bank of Baroda looks to rationalise 800-900 branches

Live Mint  

State-owned Bank of Baroda is considering the option of rationalising 800-900 branches across the country to improve operational efficiency, following its merger with Dena Bank and Vijaya Bank. It does not make sense to have branches of Dena and Vijaya at the same location when both have been merged into BoB, a senior bank official said. After comprehensive review, BoB …

India needs few mega banks to to compete globally: CEA Krishnamurthy V Subramanian
5 years, 7 months ago

India needs few mega banks to to compete globally: CEA Krishnamurthy V Subramanian

India TV News  

Batting for PSU banks' consolidation, chief economic advisor Krishnamurthy V Subramanian has said having a few good banks is a good idea as they can compete and their quality can get enhanced to compete globally with the best in the world. Taking that line of action forward, state-run Bank of Baroda became India's third largest bank after its merger with …

After merger, Bank of Baroda looks at changing work culture of Dena, Vijaya
5 years, 8 months ago

After merger, Bank of Baroda looks at changing work culture of Dena, Vijaya

Live Mint  

As Bank of Baroda starts aligning the businesses of erstwhile Dena Bank and Vijaya Bank with itself following the merger, it is also looking to instil a new work culture and make its management more accessible to employees. Two senior employees from erstwhile Dena Bank and Vijaya Bank said on condition of anonymity that the BoB management has assured them …

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