Thursday, August 1, 2013

Saraswat Bank - Rupee Bank merger gets in principle approval

Pune: Saraswat Bank is understood to have received in principle approval from the State Co-operative Department to merge with the ailing Rupee Co-operative Bank. This was confirmed by one of the administrators of the Rupee Co-operative Bank, who did not wish to be identified. The Reserve Bank of India (RBI) will be providing a statutory package of Rs 320 crore to support the merger............

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