Current Affairs - Banking - Discussion

The government has decided to infuse a capital of 5,042 crore rupees into state-owned Bank of Baroda ahead of its merger with two other public sector lenders Dena Bank and Vijaya Bank,with Bank of Baroda which would be effective from 1st April 2019.With this initiative, the share price of Bank of Baroda rose 6.21% to 129.10 compared to the previous close of 121.55 on BSE (Bombay Stock Exchange).According to the Scheme of Amalgamation, shareholders of Vijaya Bank and Dena Bank will get 402 equity shares and 110 equity shares of BoB respectively for every 1,000 shares held.