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India's Bank of Baroda to close 3 overseas branches

Bank of Baroda decided to shut down three of its overseas branches by June 30, 2019, to comply with the Indian government's guidelines to rationalize banks' overseas presence, the Press Trust of India reported Dec. 17, citing a regulatory filing.

The three branches are in Guyana, Ghana and Trinidad and Tobago.

The report came as the government has been trying to rationalize branches of state-run banks. In March, India's Financial Services Secretary Rajiv Kumar said state-run banks will consolidate 35 branches in overseas markets.