Vijaya Bank

PSU Bank merger: You'll have to take stock of your cheque books, passbooks, IFCS, ECS mandates and other things once you start dealing with the new entity

The banks affected by these changes are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank and Allahabad Bank.

All customers will now have access to the bank's digital channels

Within one-and-a-half years of bringing Vijaya Bank under its fold, Bank of Baroda said it has completed the technical integration of over 1,900 branches of erstwhile Bengaluru-headquartered lender

The bank posted a net profit of Rs 506.5 crore in Q4FY20 compared to net loss of Rs 991.3 crore in Q4FY19.

Rai, 68, died on 15 May, after he lost the battle with cancer.

Logo of the bigger bank to get prominence; Indian Bank name to be retained post amalgamation

The RBI in December 2019 noted that private sector banks accounted for 69 per cent of incremental loans in 2018-19

Agency also cites deteriorating operating environment for decision; affirms lender's domestic and foreign bank deposit ratings

CRISIL believes BoB will be able to maintain adequate capitalisation over the medium term, backed by capital support from the Union government

The lender's performance is likely to stay subdued on weak economy, NBFC stress

10 banks to be merged into 4; Indian Bank & Allahabad to be one

After today's mergers, the count of government-owned banks will come down to 12 from 27 in 2017

Finance ministry has called a meeting with chief executives of ten public sector banks on Friday

The bank's total income also rose to Rs 4,106.42 crore during the period

During the quarter, the provision coverage ratio jumped to 61.18 per cent from 56 per cent in the same period a year before

For loan of a three-year tenor, the borrowing rate will be costlier by 0.50 per cent to 9.25 per cent

The loan was sanctioned in compliance of all RBI norms and in consortium with SBI

The bank's action was necessitated by the February 12 changes that the RBI had brought to the NPA resolution framework, which asked banks to consider even one-day delay in payments as default

Shares of Vijaya Bank were trading 0.08 per cent lower at Rs 66 on BSE.