Hindusthan Samachar
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Merger Process of Trio Bank -BoB, Dena and Vijaya-to take two years' time

By HindusthanSamachar | Publish Date: Apr 15 2019 6:09PM
Merger Process of Trio Bank -BoB, Dena and Vijaya-to take two years' time
New Delhi, Apr. 15(HS) It has been estimated that the whole merger process of three state owned banks namely-Bank of Baroda, Dena Bank and Vijaya Bank-will be completed within two years.Internal integration of processes and information technology platform will take one year or more. The minimum inconvenience will be ensured on part of the customers during this period. Their individual brand names will be retained till interim period and gradually, the new brand name will be built in phased manner so that there is minimum deviation in regular operations.The funds of Rs. 5042 have been deployed by government for bearing additional expenses and meeting minimum regulatory capital specifications.After first quarter of pressure on financials, the major effect of merger will be felt and it will subside, subsequently. It is to be noted that this merger has been effective from April 1, 2019. It has been recommended by Narasimham Committee Report of 1991. It is among various reforms initiated by Financial Services Secretary Rajiv Kumar to make state owned banks globally competitive by scale and health. Now, BoB is ready to serve 12 crore customers with 85000 employees working in 9500 branches and 13,400 ATMs.Hindusthan Samachar/Bharati\
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