Vijaya, Dena to become Bank of Baroda from Mond...

Vijaya, Dena to become Bank of Baroda from Monday 1st April 2019

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Vijaya, Dena to become Bank of Baroda from Monday 1st April 2019

n a first three-way amalgamation, Vijaya Bank and Dena Bank will merge with Bank of Baroda from April 1 to create the third-largest lender of the country.

As a result, branches of Vijaya Bank and Dena Bank will function as BoB outlets from Monday onwards.

“Customers including depositors of Vijaya Bank and Dena Bank will be treated as customers of Bank of Baroda with effect from April 1, 2019,” the Reserve Bank of India had said in a statement on Saturday.

To make merger a smooth affair, the government last week decided to infuse Rs 5,042 crore in BoB to enhance its capital base to meet additional expense.

According to the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In the case of Dena Bank, its shareholders will get 110 shares of BoB for every 1,000 shares.

The government in September last year announced the first-ever three-way consolidation of banks in India, with a combined business of Rs 14.82 trillion, making it the third-largest bank after State Bank of India and ICICI Bank.

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13 Comments  |  
7 Dimers
Hamster
Entertainer
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Humare school ke baaju mein ek girls school tha aur usme Dena bank tha. Aage aap log samajhdaar ho. Bachpan ki harampanti ki yaaden. sad

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Deal Cadet
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I have come across contradiction related to minimum QAB for Dena Bank and BoB.. example :- dena bank service charges pdf says it’s 1000 for metro cities whereas BoB says it’s 2000. Both are PDF’s mentioning BoB name and effective from tomorrow but downloaded from their respective websites.

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Deal Lieutenant
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they have been sending sms regarding the revised service charges better to keep the balance as 2000 or they might cut confused

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Deal Cadet
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Vijaya Bank has min balance 2K in urban areas. Also they charge for debit card and sms. Thats how they make extra revenue from several customers who trust in public sector banks

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Deal Cadet
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Most Private banks have 25K average balance accounts which have no card sms etc charges and basic services are free.

Hamster
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kkrulesdnation wrote:

Most Private banks have 25K average balance accounts which have no card sms etc charges and basic services are free.

25k fixed deposit in some reputed private bank will easily fetch 1750 annum. So saving 150 for card, 70 for sms is still not a sweet deal.

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marketdimer wrote:

25k fixed deposit in some reputed private bank will easily fetch 1750 annum. So saving 150 for card, 70 for sms is still not a sweet deal.

Yes I agree with you. Personally I need to keep that much liquidity for transactions hence I don’t prefer to pay extra charges.

Cropped808459675
Deal Cadet
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Government is one side decreasing banks by merging and on other side giving licenses to private bank. Making people’s fool that nps problem with merging banks

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Deal Subedar
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marketdimer wrote:

Humare school ke baaju mein ek girls school tha aur usme Dena bank tha. Aage aap log samajhdaar ho. Bachpan ki harampanti ki yaaden. sad

Waaah ji waah pray

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After merger, Bank of Baroda looks at changing work culture of Dena, Vijaya

The merged entity of Bank of Baroda is now drawing up a branch rationalization plan
Employees of Dena and Vijaya were given the option to either opt for a VRS or join the merged bank

https://www.livemint.com/companies/news/after-m...

Dont waste my time
Deal Subedar
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Bank of Baroda used to offer IMPS/NEFT transactions free before this merger. Now they are charging for the said services. That’s one change I noticed post merger. One other change I noticed was significantly increased annual charge for debit card. It was around 160-170 rupees before, on last month’s statement I noticed the same at 236 rupees.

Achhe stuffs for the consumers.

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ithehappy wrote:

Bank of Baroda used to offer IMPS/NEFT transactions free before this merger. Now they are charging for the said services. That’s one change I noticed post merger. One other change I noticed was significantly increased annual charge for debit card. It was around 160-170 rupees before, on last month’s statement I noticed the same at 236 rupees.

Achhe stuffs for the consumers.

what about debit card charges of private banks like HDFC ICICI Axis Kotak

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