Centre to merge Dena Bank, Vijaya Bank, Bank of Baroda

September 17, 2018 19:19

Financial Services Secretary Rajiv Kumar says that finance ministry has suggested Bank of Baroda, Vijaya Bank and Dena Bank to consider amalgamation to create India's 3rd largest globally competitive bank.

Addressing a press conference later, Union Finance Minister Arun Jaitley said the government had announced in the budget that consolidation of banks was also in our agenda and the first step has been announced.

"No employee will face any service conditions which are adverse in nature. The best of the service conditions will apply to all of them," Jaitley said.

More details awaited. -- ANI

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