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SC refuses to stay India's first three-way merger of PSU banks

Mar 29, 2019 13:07 IST

Citing that the proposed merger is a purely economic decision, the Supreme Court has refused to put a stay on India's first three-way merger of public sector banks. The top court dismissed the plea filed by the bank officers' association challenging the merger of Bank of Baroda, Vijaya Bank and Dena Bank effective from April 1. The proposed merger will make Bank of Baroda the second largest public sector bank replacing Punjab National Bank.

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