BANKING AFFAIRS

Detailed explanation-1: -The government has decided to infuse Rs 5, 042 crore into state-owned Bank of Baroda (BoB) ahead of merger of two other public sector lenders Dena Bank and Vijaya Bank with BoB. The merger of Dena Bank and Vijaya Bank with BoB would be effective from April 1.

Detailed explanation-2: -All branches of Vijaya Bank and Dena Bank have now become Bank of Baroda branches. Bank of Baroda (BoB) said on December 20 that it had completed the integration/migration of 3, 898 branches of Vijaya Bank and Dena Bank.

Detailed explanation-3: -Detailed Solution. The correct answer is Vijaya Bank and Dena Bank. Bank of Baroda became the third largest bank after the amalgamation.

Detailed explanation-4: -Vijaya Bank and Dena Bank were merged with Bank of Baroda with effect from 1 April 2019. The bank said all customers will now have access to a total of 8, 248 domestic branches and 10, 318 ATMs across the country.

Detailed explanation-5: -Announcing the merger, Finance Minister Arun Jaitley had said “the consolidation will help create a strong globally competitive bank with economies of scale and enable realisation of wide-ranging synergies".