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Jayakumar gets 1 year extension

P.S. Jayakumar will continue as MD and CEO of Bank of Baroda for a period of 1 year. The government has decided to extend the term after the proposal was approved by the Appointments Committee of the Cabinet. He 3-year term at the bank had ended on 12 October. The government seems to have taken into consideration the proposed three-way merger of Bank of Baroda, Dena Bank and Vijaya Bank and the need for continuity at Bank of Baroda, which is the strongest among the 3 merger candidates. The merged entity will be the 3rd largest bank in India after State Bank of India and HDFC Bank.

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