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At the time of the proposal to merge, the gross NPA ratios of Bank of Baroda, Vijaya Bank and Dena Bank were 12.4%, 6.9% and 22% respectively, [11] and Dena Bank was the weakest among the three in terms of its total business size. [9] The Union Cabinet and the boards of the banks approved the merger on 2 January 2019.
Desai was a senior partner in the firm of Messrs. Devkaran Nanjee and Sons, stock, cotton, bullion and exchange brokers.He was also the honorary Treasurer of the Bombay Stock Exchange and one of the founding directors of Devkaran Nanjee Banking Co. Ltd. (later renamed the Dena Bank), on 26 May 1938, and other allied companies with his brother Pranlal Devkaran Nanjee.
Dena Bank was founded on 26 May 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company. It adopted its new name, Dena Bank (Devkaran Nanjee), when it incorporated as a public company in December 1939. [6] [5] The Indian Banks' Association was founded by his vision and leadership in 1946.
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The Indian Banks' Association (IBA), formed on (26 September 1946), is an unregistered, voluntary association of like-minded banks and individuals in India [1] —a representative body of Indian banks and financial institutions based in Mumbai. [2]
World Bank: International associates of NABARD include World Bank-affiliated organisations and global developmental agencies working in the field of agriculture and rural development. These organisations help NABARD by advising and giving monetary aid for the upliftment of the people in the rural areas and optimising the agricultural process ...
Greater autonomy was proposed for the public sector banks in order for them to function with equivalent professionalism as their international counterparts. [11] For this the panel recommended that recruitment procedures, training and remuneration policies of public sector banks be brought in line with the best-market-practices of professional banking systems.
A review of the RRBs in August 2009 by the Union Finance Minister revealed that a large number of RRBs had a low Capital to Risk weighted Assets Ratio (CRAR). A committee was constituted in September 2009 under the chairmanship of K C Chakrabarty, [4] the deputy governor of the Reserve Bank of India (RBI) to analyse the financials of the RRBs and suggest measures, including re-capitalisation ...