Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.274)

274. 

The cabinet has approved the merger of Vijaya Bank & Dena Bank with __________. And become the first ever three-way merger in Indian banking.

[A]. Axis Bank
[B]. Union Bank of India
[C]. Punjab National Bank
[D]. Bank of Baroda

Answer: Option D

Explanation:

The cabinet has approved the merger of Vijaya Bank & Dena Bank with Bank of Baroda. After this merger, Bank of Baroda will become the third biggest public sector bank. The merger will be effective from April 1. This is also the first ever three-way merger in Indian banking. Bank of Baroda (BoB) finalised the share swap ratio for the merger of Vijaya Bank and Dena Bank with itself. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB.

Tushar Singh said: (Jan 4, 2019)  
It will be third Largest Bank in India after SBI & ICICI, not 3rd Largest PSU Bank.

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