Finance Minister Arun Jaitley on Friday confirms in Lok Sabha that there would be no loss of jobs due to merger of Vijaya Bank & Dena Bank with Bank of Baroda.
The Cabinet has approved merger of Vijaya Bank and Dena Bank with Bank of Baroda.
Further, he added that the cost of lending would be cheaper.
Jaitley said that the State Bank of India (SBI) and other public sector banks have been making operational profits. They incurred losses due to provisioning for non-performing assets, he added.
The minister also said that in recent past, Rs 90,000 crore was allocated in the Union Budget and infused in various PSBs by the government during financial year 2017-18.
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