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REGULATING CO-OPERATIVE BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country's financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.

Press Release


PDF document (293 kb)
Date : Oct 29, 2022
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 sanctioned the Scheme of Amalgamation of Shree Sharada Sahakari Bank Ltd, Pune (Maharashtra) with The Cosmos Co-operative Bank Ltd., Pune (Maharashtra). The Scheme 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). The Scheme 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.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2022-2023/1108

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