Union Government on 17 September 2018 proposed to merge which three PSU Banks?
A. SBI, PNB and Dena Bank
B. IDBI, Bank of Baroda and Dena Bank
C. Bank of Baroda, Dena Bank and Vijaya Bank
D. IDBI Bank, Vijaya Bank and Dena Bank
Answer:C
Union Government on 17 September 2018 proposed to merge which three PSU Banks?
A. SBI, PNB and Dena Bank B. IDBI, Bank of Baroda and Dena Bank C. Bank of Baroda, Dena Bank and Vijaya Bank D. IDBI Bank, Vijaya Bank and Dena Bank
Explanation: The Union Government on 17 September 2018 moved towards consolidation of the banking sector, proposing an amalgamation of state-owned Bank of Baroda, Dena Bank and Vijaya Bank to create India’s third largest bank. The new amalgamated bank will have a total business of more than Rs 14.82 trillion and will be the third largest bank in India. The government expects that the amalgamated bank will be a strong competitive bank with economies of scale. While Dena Bank has been placed under the prompt corrective action framework by the Reserve Bank of India with restrictions on lending, Vijaya Bank is among the only two lenders to have reported a profit in 2017-18.