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RBI reshuffles lead bank responsibilities post banks merger

Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda has been notified on January 2, 2019.

RBI reshuffles lead bank responsibilities post banks merger

Mumbai: The Reserve Bank has reshuffled lead bank responsibilities in some districts of Chhattisgarh, Gujarat, Karnataka and Union Territory Dadra & Nagar Haveli following the merger of Dena Bank and Vijaya Bank with Bank of Baroda.

Amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda has been notified on January 2, 2019. The notification has come into force on April 1, 2019, the RBI said in a notification.

Following the merger, the RBI has decided to assign the lead bank responsibility of districts hitherto held by Vijaya Bank and Dena Bank, the central bank said.

The lead bank responsibility in seven districts in Chhattisgarh has been assigned to Bank of Baroda from Dena Bank.

In Gujarat, Ahmedabad and Gandhinagar will get SBI as the lead banker from Dena Bank earlier. While eight other districts in the state will be deputed to Bank of Baroda from Dena Bank.

Three districts in Karnataka goes to Bank of Baroda from Vijaya Bank.

"There is no change in the lead bank responsibilities of the other districts across the country," the RBI said.