Reserve Bank of India has granted permission to the Cosmos Cooperative Bank to open 4 branches in Tamilnadu. The bank is expected to open these branches in this financial year. Krishnakumar Goyal, chairman of the bank said at present Cosmos Bank has one branch in Chennai and the new permission from RBI is to open 2 more branches in Chennai city and one branch each in Coimbatore and Hosur which are fast developing cities of the state. The 4 branches of Amravati Peoples Bank which has merged in the Cosmos Bank will be shifted to Tamilnadu. Goyal said customers of Chennai have given a very good response to the branch there and the present business of this branch is more than Rs173 crore. The overall business of the bank has recently crosssed Rs 25,000 crore.
