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Dena Bank board approves merger with Bank of Baroda, Vijaya Bank

3h livemint
Mumbai: Public sector lender Dena Bank on Monday said its board has approved the government proposal to merge the bank with Bank of Baroda (BoB) and Vijaya Bank. This is the first of the three state-run banks to approve their proposed amalgamation after it was announced by the government on 10 September.
532121 HDB 500180 HDFCBANK DENABANK SBAZ 532401 VIJAYABANK

 
Dena Bank board approves merger proposal with Bank of Baroda

5h moneycontrol
The board of state-run Dena Bank on September 24 approved its merger with Bank of Baroda along with another state-run lender Vijaya Bank.
532121 DENABANK SBAZ 532401 VIJAYABANK

 
FM to meet PSU banks chiefs on September 25; to review financial performance

9h moneycontrol
Finance Minister Arun Jaitley will meet the heads of public sectors banks (PSBs) tomorrow as part of the annual financial performance review exercise. The meeting is expected to discuss a host of issues, including progress made with regard to reduction in non-performing assets, sources said.
INDIANB 500116 PNJZY 532121 532461 IDBI 532814 PNB DENABANK 532401 VIJAYABANK

 
Mega bank mergers and the future of reforms

14h livemint
Bengaluru: When the Modi government took charge in 2014, it was set to prove its admirers right, and the sceptics wrong, on banking reforms. The then Governor of the Reserve Bank of India (RBI), Raghuram Rajan, was halfway through his tenure and had independently started the clean up of the banking system by taking action wherever the remit of the RBI worked.
ICICIBANK 532121 KMBKY 532174 IBN KOTAKBANK 500247 DENABANK 532401 VIJAYABANK

 
Govt to start merging regional rural banks, to cut tally to 36

2018-09-23 moneycontrol
The government has initiated consolidation of regional rural banks along with the public sector lenders and intends to bring down their number to 36 from the existing 56. In this regard, the Centre has begun consultations with states as they are one of the sponsors of the regional rural banks (RRBs) in the country, a senior Finance Ministry official has said.
532121 DENABANK 532401 VIJAYABANK

 
Economic storm alert: Hurricane Tru(m)Ping to hit the world

2018-09-21 thehindubusinessline
President Donald Trump weighs 285 pounds. That’s a lot of weight to throw around, and he loves to do so, seeking to renegotiate agreements and treaties. He has, last week, thrown his weight around against Chinese Premier, Xi Jinping, who weighs 143 pounds, half Trump’s weight, imposing a second round of tariffs, at 10 per cent, on $200 billion worth of Chinese imports. Trump further threatened that if China retaliated, he would impose further tariffs.
532121 DENABANK 532401 VIJAYABANK

 
All eyes now on share swap ratio in this mega bank merger

2018-09-21 livemint
The composite index hosting public sector bank shares on the National Stock Exchange (NSE) has lost 7% of its value. It is a clear signal that investors don’t like the government’s first attempt at bank consolidation. On Monday, the government announced that it would merge Bank of Baroda (Bank of Baroda), Vijaya Bank and Dena Bank to form the third largest lender in India.
532121 DENABANK 532401 VIJAYABANK

 
SBI not right candidate to take over more banks: Chairman Rajnish Kumar

2018-09-20 moneycontrol
The country's largest lender State Bank of India Thursday said it is not in a position to acquire more banks at the moment as it needs 2-3 years to see gains from the consolidation effected last year.
ICICIBANK 532121 532174 IBN DENABANK SBAZ 532401 VIJAYABANK

 
Bank of Baroda-Vijaya Bank-Dena Bank merger credit positive: Moody#39;s

2018-09-20 moneycontrol
The proposed merger of Bank of Baroda, Vijaya Bank and Dena Bank is "credit positive" because the merger would provide scale efficiencies and help improve the quality of corporate governance, rating agency Moody's said.
532121 DENABANK SBAZ 532401 VIJAYABANK

 
Govt may infuse Rs 2,350cr in Central Bank to boost capital base

2018-09-20 moneycontrol
In a bid to help the Central Bank of India meet capital requirements as per the Reserve Bank of India (RBI)'s guidelines, the government is planning to infuse Rs 2,350 crore in the bank, according to a report by Business Standard.
IOB ALBK 532418 532401 VIJAYABANK 532179 532388 PNJZY 532121 532461 CRPKY 532480 PNB CORPBANK DENABANK ANDHRABANK

 
Anand Rathi expects volatility to continue till RBI policy meet; 3 stocks it is betting on

2018-09-20 moneycontrol
The market is witnessing some profit booking since the beginning of the month due to macroeconomic headwinds and increasing trade tariffs between the USA and China.
532121 DENABANK 532401 VIJAYABANK

 
Govt considering merging PNB, OBC, Andhra Bank: Report

2018-09-20 moneycontrol
After deciding to merge Bank of Baroda (BoB), Vijaya Bank and Dena Bank, the government is likely to announce the merger of three other banks before the end of the year, according to a report by TickerNews Service.
PNJZY 532121 532461 532418 PNB DENABANK ANDHRABANK 532401 VIJAYABANK

 
Banks allay employee fears as govt works out merger details

2018-09-20 livemint
Mumbai: Even as the government works on the contours of a mega bank merger, Vijaya Bank managing director and chief executive officer (MD and CEO) Sankara Narayanan assured his staff that the government has decided that all three banks—Bank of Baroda, Dena Bank and Vijaya Bank—will retain their individual identities post merger. In a letter to employees, Narayanan said the government has decided to amalgamate the bank with other two banks, suggesting that this merger could happen in one go.
532121 DENABANK 532401 VIJAYABANK

 
Belated merger but welcome

2018-09-20 freepressjournal.in
For over four years, the Government did virtually nothing to push the economic reforms, focusing, instead, on the nuts and bolts of the economic system, fixing leakages, removing bottlenecks and trying to work the inherited economic engine as well as it could. The disinvestment process was halted, the public sector was sought to be freed from government controls in the hope that it would turn the corner.
500116 532121 IDBI DENABANK SBAZ 532401 VIJAYABANK

 
Merger plan erases US$2.8 bil from India state-run lenders

2018-09-19 theedgemarkets
(Sept 19): India’s plan to merge state-controlled lenders as a way to resolve its bad-debt issue didn’t thrill investors.
532121 DENABANK SBAZ 532401 VIJAYABANK

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