Cabinet Clears Vijaya Bank, Dena Bank, Bank Of Baroda Merger

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday 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. The merged entity will become the third largest bank in the country, after government-owned State Bank of India and private sector lender ICICI Bank. The merger will come into force on April 1, 2019, the government said in its statement.