India seeks merger of state-run Bank of Baroda, Dena and Vijaya Bank

A man walks past the Bank of Baroda headquarters in Mumbai, India, May 3, 2016. REUTERS/Danish Siddiqui/File Photo

The government’s decision on Monday to merge three banks it owns—Bank of Baroda, Dena Bank and Vijaya Bank—is expected to reduce the amount of capital it needs to pump into these lenders and help clean their balance sheets.

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