The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra. 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 Scheme will come into force with effect from September 26, 2023. The branches of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai (Maharashtra) will function as branches of The Cosmos Co-operative Bank Limited, Pune (Maharashtra) with effect from September 26, 2023.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/986