Summary:
The announcement of the merger of Bank of Baroda, Dena Bank and Vijaya Bank has special significance in Gujarat. The merger of Bank of Baroda (BoB), Dena Bank and Vijaya Bank will create the largest banking entity in Gujarat, and will challenge the market leader State Bank of India (SBI) in the state. The merger has a special significance for Gujarat as both, BoB and Dena Bank have a Gujarat connection in their origins. Moreover, Dena Bank is the 'Lead Bank' in the state, meaning that it coordinates the banking activity of all nationalised, private and cooperative banks in Gujarat. Bank of Baroda was established in the erstwhile princely state of Baroda by Maharaja Sayajirao Gaekwad in 1908..