Saraswat Co-op Bank to acquire 3 more banks

Mumbai, Jun 13 (UNI) India's leading co-operative lender, Saraswat Co-operative Bank today announced its plans to acquire three small co-operative banks -- Southern Co-operative Bank, Amravati Co-operative Bank and Karnataka-based Sirsi Urban Co-operative Bank in the next three months.

Announcing the financial results for the year ended March 31 here, one of the senior director of the Bank and former MP Eknath Thakur said the Bank has already given applications to the concerned authorities, including Reserve Bank of India (RBI).

The Bank has also tied up with Bank of India for ATM facilities.

The first branch of the Bank in north India will be inaugurated on August 16 in New Delhi, Mr Thakur said.

The number of branches of the Bank has increased from 105 to 153 after a number of acquisitions last year, he said. The Bank has also received licences for opening nine branches in Bangalore, Udupi, Kudal, Peddar Road, Lokhandwala Complex and Meera Road in the city, he added.

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