Bank of Baroda: Power of 3

Bank of Baroda

Question: Power of 3 is related to:
(a) New brand campaign of Bank Of Baroda
(b) Car Loan scheme
(c) Home loan scheme
(d) Personal loan scheme
Answer: (a)
Related facts:

  • From 1st April 2019, Bank of Baroda with its mergers came together to create Ab Saath hai teen, Behtar se Behtareen. This is a new brand campaign of ‘Bank of Baroda’.
  • The tripartite amalgamation of Bank of Baroda, Vijaya bank and Dena Bank, reflects the government’s focus towards consolidation and strengthening of the public-sector banking.
  • Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank are established institutions serving the nation and the society at large, with a legacy of 80 – 100 years.
  • In September 2018, in-principle, approval to the amalgamation was granted by the boards of the three banks pursuant to the Government proposal on the same.
  • Subsequently, the government notified the scheme of Amalgamation on 2nd January, 2019, with the date of commencement as 1st April, 2019.

Links:
https://indianexpress.com/article/india/sponsored-bank-of-baroda-strengthens-public-sector-banking-through-power-of-3-5652742/
https://www.bankofbaroda.com/amalgamation.htm

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