<h1>Government Approves Framework for Amalgamation of Public Sector Banks; Bank of Baroda, Vijaya, and Dena Bank to Merge.</h1> The Central Government, in consultation with the Reserve Bank of India, has approved a framework to facilitate the amalgamation of public sector banks (PSBs) to create stronger, competitive banks. An Alternative Mechanism (AM) has approved the potential merger of Bank of Baroda, Vijaya Bank, and Dena Bank. The government has also implemented measures to address non-performing assets (NPAs), including the Insolvency and Bankruptcy Code, amendments to the SARFAESI Act, and the establishment of additional Debts Recovery Tribunals. These efforts have led to a significant reduction in NPAs and improved asset quality in the banking sector.