Finance Ministry to infuse Rs. 5042 crore into Bank of Baroda

The government will infuse around Rs. 5000 crore into Bank of Baroda, which will be merged with two other public sector banks Dena Bank and Vijaya Bank. This merger would be effective from 1st April and is further aiming to create the third-largest lender after State Bank of India and ICICI Bank. The Ministry of Finance has conveyed through its notification to infuse capital of 5,042 crore rupees into the Bank of Baroda. The Capital infusion will be by way of preferential allotment of equity shares (including special Securities and Bonds of the Bank during Financial year 2018-19, as Government’s investment.