The 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.
