All branches of Vijaya Bank and Dena Bank started to function as branches of Bank of Baroda from April 1, ______.
Show answer & explanation
Correct answer: A
Explanation
Correct Answer:
Option 1 (2019)
Explanation:
All branches of Vijaya Bank and Dena Bank began operating as branches of Bank of Baroda from April 1, 2019. This marked the beginning of a major merger of public sector banks in India, resulting in Bank of Baroda becoming India's third-largest public sector bank.
Additional Facts:
Post-Merger Impact: This merger significantly increased Bank of Baroda's global reach and assets.
Bank Consolidation: In August 2019, the Government of India announced the merger of 10 public sector banks into four larger banks, which became effective in 2020.
Headquarters: Bank of Baroda is headquartered in Vadodara, Gujarat.
Possible Questions for the Upcoming Exam:
Which is the largest public sector bank in India?
(Answer: State Bank of India - SBI)
Oriental Bank of Commerce and United Bank of India merged to form which bank?
(Answer: Punjab National Bank - PNB)
What is the total number of public sector banks in India at present?
(Answer: 12)