Thursday, 4 April 2019

BOB, Dena Bank and Vijaya Bank will have to do this. This work, the government has made an important decision

BOB, Dena Bank and Vijaya Bank will have to do this. This work, the government has made an important decision

Union Cabinet has approved the merger of Vijaya Bank and Dena Bank at Bank of Baroda. This is the first time the three-way merger in the history of this banking system. After the Cabinet meeting, Union Minister Ravi Shankar Prasad also said that the bank created after the merger will be able to hit the global level. This merger will be applicable from 1 April 2019. Because of this, now the name of the bank will be changed on ATM and check book in Agami days, where your account is.

After the merger, the total business of Bank of Baroda will be Rs 14.82 lakh crore, making it the country's third largest number of banks. This process will not affect your bank deposit and it will be safe. Because, such a merger has already happened before.

Following the merger of this method, the bank's customers' paperwork increases. For this, the KYC process has to be redone. With ATM, passbook will be updated again.

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