Question
Download Solution PDFThe amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda (BoB) came into effect from _________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda (BoB) came into effect from 1 April 2019.
- With amalgamation with BOB to create India's third largest bank.
- According to the Amalgamation Scheme, Vijaya Bank shareholders would earn 402 BoB equity shares for every 1,000 shares owned.
- In Dena Bank's case its shareholders will receive 110 BoB shares per 1,000 shares.
- The three-way merger announcement was among many reform initiatives undertaken by Financial Services Secretary Rajiv Kumar to make public-sector banks (PSBs) stable, robust and competitive globally.
Last updated on Jun 13, 2025
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