BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Punjab National Bank
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State Bank of India
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Bank of Baroda
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Syndicate Bank
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Detailed explanation-1: -An official announcement will be made before August 12, 2004. The decision to merge SGLAB with BoB was taken keeping in mind the interests of the local area bank’s depositors. As per the merger formula, all assets and liabilities of SGLAB will be transferred to Bank of Baroda.
Detailed explanation-2: -Branches of Vijaya Bank and Dena Bank will function as Bank of Baroda after the amalgamation.
Detailed explanation-3: -Under the ‘Alternative Mechanism’ scheme, the Government announced the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda which came into effect on April 1, 2019.
Detailed explanation-4: -In the year 1964 The Umargaon Peoples’ Bank & Tamilnadu Central Bank amalgamated with the Bank. In July 1969 the Bank was nationalized and the name was changed from ‘The Bank of Baroda Ltd’ to ‘Bank of Baroda’.