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Modi government approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda to make it a globally competitive lender. With the merger, BoB will become the second largest government bank after State Bank of India. "There will be no impact on the service conditions of the employees and there will be no retrenchment following the merger," Union Law Minister Ravi Shankar Prasad told reporters about decisions taken by the Union Cabinet.