September 17, 2018 / 1:09 PM / 3 months ago

India to merge state-owned Bank of Baroda, Dena Bank, Vijaya Bank

NEW DELHI, Sept 17 (Reuters) - India plans to merge three state-run banks - Bank of Baroda, Dena Bank and Vijaya Bank - the financial services secretary said on Monday, as part of efforts to clean up the country’s banking system.

The government will continue to provide capital support to the merged bank, expected to be India’s third-largest, Rajeev Kumar told reporters. (Reporting by Manoj Kumar; Writing by Aditi Shah; Editing by Sanjeev Miglani)

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