Vijaya Bank and Dena Bank were amalgamated with which bank with effect from 1 April 2019?
- A.Punjab National Bank
- B.Bank of Baroda
- C.Union Bank of India
- D.State Bank of India
Correct answer
Explanation
The correct answer is B, Bank of Baroda. With effect from 1 April 2019, Vijaya Bank of Karnataka and Dena Bank of Gujarat were merged into Bank of Baroda. It was the first three way amalgamation of public sector banks in India, and the merged entity became one of the largest public sector banks by branch network.
Option A, Punjab National Bank, took in Oriental Bank of Commerce and United Bank of India a year later. Option C, Union Bank of India, took in Andhra Bank and Corporation Bank in the same 2020 round. Option D, State Bank of India, had completed its own merger in 2017 by absorbing five associate banks and Bharatiya Mahila Bank. Note that Dena Bank was one of the fourteen banks of 1969 and Vijaya Bank one of the six of 1980.
Read the full article: Bank Nationalisation and Mergers in India: 1949 to 2020
Practice Questions
View allIn which year was the State Bank of India created following the passage of the Imperial Bank of India into state ownership?
- A.1947
- B.1965
- C.1955
- D.1950
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The All India Rural Credit Survey Committee found that rural credit needed a bank with a nationwide branch network, so Parliament passed the State Bank of India Act, 1955, and the Imperial Bank of India was taken over and renamed the State Bank of India with effect from 1 July…
Read the full explanation →Small Industries Development Bank of India (SIDBI) was established in which year?
- A.1990
- B.1988
- C.1992
- D.1994
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SIDBI was set up under the Small Industries Development Bank of India Act, 1989 and began operations in 1990 as the principal financial institution for the promotion, financing and development of micro, small and medium enterprises.
Read the full explanation →How many commercial banks were nationalised in the first round on 19 July 1969?
- A.Six
- B.Eight
- C.Fourteen
- D.Twenty
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On 19 July 1969 the government promulgated an ordinance nationalising fourteen major commercial banks, each of which held deposits of fifty crore rupees or more.
Read the full explanation →In the second round of bank nationalisation in April 1980, how many banks were nationalised?
- A.Four
- B.Six
- C.Seven
- D.Eleven
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On 15 April 1980 six private banks whose deposits were two hundred crore rupees or more were nationalised: Andhra Bank, Corporation Bank, New Bank of India, Oriental Bank of Commerce, Punjab and Sind Bank, and Vijaya Bank.
Read the full explanation →The Reserve Bank of India was nationalised with effect from:
- A.1 April 1935
- B.1 January 1949
- C.1 July 1955
- D.19 July 1969
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The Reserve Bank of India began as a shareholders' institution in 1935 and was taken into full government ownership from 1 January 1949 under the Reserve Bank of India (Transfer to Public Ownership) Act, 1948.
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