Indian Govt Decides to infuse around Rs 5000 Cr into Bank of Baroda.
The merger of Dena Bank and Vijaya Bank with Bank of Baroda would be effective from 1st of April.
The Indian government has decided to infuse approximately Rs. 5000 crores into nationalized Bank of Baroda ahead of merger of two other state-owned lenders Dena Bank and Vijaya Bank with Bank of Baroda.
The merger of Dena Bank and Vijaya Bank with Bank of Baroda would be effective from 1st of April.
The ministry of finance through its notification conveyed its decision to infuse capital of Rs. 5,042 crores in the bank, the Bank of Baroda said in a regulatory filing.
The government of India in September of 2018 had announced merger of Vijaya Bank and Dena Bank with Bank of Baroda.
The aim was to create the 3rd largest lender after State Bank of India (SBI) and Industrial credit and Investment Corporation of India (ICICI Bank).
