No one will lose job after Bank of Baroda merger: Arun Jaitley
Arun Jaitley said that there would be no job losses due to merger of Bank of Baroda, Dena Bank and Vijaya Bank. He said the cost of lending could also become cheaper as a result.
New Delhi: Finance minister Arun Jaitley on Friday said in Lok Sabha that there would be no loss of jobs due to merger of public sector banks. Earlier this week, the Cabinet approved merger of Vijaya Bank and Dena Bank with Bank of Baroda. Jaitley said that there would be no job losses due to merger of the banks and that the move would create a bigger entity like the State Bank of India (SBI).