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Vijaya Bank, Dena bank removed from second schedule of RBI Act

Press Trust of India  |  Mumbai 

The Reserve Bank of India on Thursday said it has excluded Vijaya Bank and Dena Bank from the second schedule of the RBI Act, with effect from April 1, 2019.

"Vijaya Bank and Dena Bank have been excluded from the second schedule to the Reserve Bank of India Act, 1934 with effect from April 1, 2019, since they have ceased to carry on banking business with effect from April 1, 2019," RBI said in a notification.

The public sector lenders were merged into Bank of Baroda at the beginning of the current financial year and, hence, ceased to operate as banking companies separately.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 28 2019. 18:00 IST