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Cooperative Banking

RBI approves amalgamation of Sahebrao Deshmukh UCB with Cosmos Coop Bank

RBI grants in-principle authorisation to 32 entities for PA licenceThe Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Sahebrao Deshmukh Co-operative Bank Mumbai with The Cosmos Co-operative Bank Limited, Pune. 

The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The branches of The Sahebrao Deshmukh Co-operative Bank, Mumbai, will function as branches of the Cosmos Co-operative Bank, Pune, with effect from September 26, 2023.

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