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Article: South Indian Co-operative merges with Saraswat Bank.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- September 1, 2008
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South Indian Co-operative merges with Saraswat Bank
Mumbai, Sep 1 (PTI) -- Saraswat Co-operative Bank, the biggest cooperative bank in the country, has taken over Mumbai-based The South Indian Co-operative Bank, offering huge relief to about 66,000 depositors.
The merger proposal by Saraswat Bank has received all the required approvals and the scheme has come into effect from today, a Saraswat Bank statement said here.
South Indian Bank customers with deposits up to Rs one lakh each can now get back their money if they want. However, those having deposits above Rs one lakh will have to forgo a part of their amount.
South Indian ...