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Maratha Mandir Coop Bank merges with Saraswat Bank

Written by: Staff
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Mumbai, Apr 4 (UNI) Trouble-torn Maratha Mandir Cooperative Bank has been merged with the Saraswat Cooperative Bank Limited (scheduled).

In all, 11 branches of Maratha Mandir were merged into the Saraswat bank at a function held here yesterday, a release issued today said.

With the addition of these 11 branches, Saraswat bank's strength has gone up to 86. All 242 employees of Maratha Mandir would now get benefits as per Saraswat bank employee's category.

Maratha Mandir had a deposit of Rs 182 crore and liabilities of Rs 110 crore when it became bankrupt, the release said.

On the occasion of the merger, Saraswat Bank Director Eknath Thakur and Cooperative Bank Employees' Union president Anandrao Adsul were present.

UNI ST GK AG1339

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