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Bank of Baroda and Canara Bank could acquire smaller banks like Dena Bank, Vijaya Bank, UCO Bank, Union Bank of India and United Bank of India, officials said.
The government is holding discussions with six or seven banks to examine synergies as it pushes for consolidation among public sector banks. Kicking off the process, State Bank of India has already merged with its associate banks.
“Talks are on to see which fit will be the best. We should see something emerge from the discussions with six or seven banks over the next month or two,” an official told Business Standard.
