M&A

M&A

Maratha Sahakari Bank to merge with Cosmos Co-op Bank

Business Line  

The Reserve Bank of India (RBI) has granted approval for the Scheme of Amalgamation of Mumbai-based Maratha Sahakari Bank with Pune-headquartered Cosmos Co-operative Bank. This decision comes after Maratha Sahakari Bank, established in 1946 with seven branches in Mumbai, had been placed under regulatory directions by the central bank since August 31, 2016. Cosmos Co-operative Bank, an urban co-operative bank operating across multiple states, has a network of 140 branches, with deposits and advances amounting to INR 16,522 crore and INR 12,293 crore, respectively, as of March-end 2022.