Dena Bank board approves merger with Vijaya, Bank of Baroda

State-run Dena Bank's board on Monday cleared a proposal suggesting a merger with two other state-run banks, Vijaya Bank and Bank of Baroda. The government had last week suggested a merger of the three banks to create the country's second largest state-run bank, after SBI. If the merger takes place, the number of government-run banks will be reduced to 19.