A recent bank merger that has been announced includes Vijaya Bank, Dena Bank, and ______

Question

Question

This question was previously asked in

SSC GD Previous Paper 32 (Held On: 9 March 2019 Shift 2)_English

Answer 1

The correct answer is Bank of Baroda.

The 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.