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Banks merger News

01 Apr 2020

Six banks will cease to exist after mega-merger comes into effect today

The new financial year is set to begin on Wednesday (April 1) and this year this day is significant because it will witness see the merger of six public sector banks into four (anchor banks).

10 Jul 2019

After banks, govt may recapitalise PSU insurers prior to restructuring

Sources in the Finance Ministry said that management consultancy firm Ernst & Young (EY) has been shortlisted to advise on restructuring of three general insurers and based on its report, the government may also consider providing capital support to the companies.

02 Apr 2019

RBI reshuffles lead bank responsibilities post banks merger

Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda has been notified on January 2, 2019.

03 Jan 2019

Morning Breaking: Cabinet approves merger of Vijaya Bank, Dena Bank & Bank Of Baroda

The Cabinet Committee on Economic Affairs (CCEA) has approved the merger of state-run Vijaya Bank, Bank of Baroda and Dena Bank. This marks the first-ever three-way merger in the country's banking sector.

Moody's Investors Service

18 Sep 2018

Merger of BoB, Vijaya, Dena Bank to improve efficiency, governance: Moody's

The government Monday proposed the merger of the three state-owned banks to create the country's third largest lender as part of efforts to revive credit and economic growth.

Finance Ministry

09 Aug 2017

Govt to initiate banks' consolidation process after Q1 numbers

There are factors like regional balance, geographical reach, financial burden and smooth human resource transition that have to be looked into while taking a merger decision, the official said, adding that there should not be merger of a very weak bank with a strong one as it could pull the latter down.

29 Jul 2014

Not considering any proposal for merger with United Bank: IDBI Bank

State-owned IDBI Bank has said it is not considering any proposal to merge Kolkata-based United Bank of India with itself.

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