RBI approves amalgamation of Shree Sharada Sahakari Bank Ltd. Pune Maharashtra with The Cosmos Co-operative Bank Ltd. Pune Maharashtra
The Reserve Bank of India has approves Amalgamation of Shree Sharada Sahakari Bank Ltd,Pune Maharashtra with The Cosmos Co-operative Bank Ltd. Pune Maharashtra.The amalgamation has been sanctioned in exercise of the powers under the provisions of Section 44A read with Section 56 of the Banking Regulation Act, 1949 as amended vide the Banking Regulation Amendment Act, 2020 (39 of 2020).That will come into force with effect from October 30, 2022.
All the branches of Shree Sharada Sahakari Bank Ltd, Pune Maharashtra will function as branches of The Cosmos Co-operative Bank Ltd., Pune Maharashtra with effect from October 30, 2022