Reserve Bank of India has granted approval in principle to Cosmos Co-operative Bank to open 18 new branches as well as to upgrade its existing 9 extension counters into new branches.
Shri Krishnakumar Goyal, Chairman Cosmos Bank stated that communication in regards to this has been received from the Reserve Bank of India.
According to Mr. Goyal, the RBI would soon issue licenses for these new branches, and followed by the receipt of these licenses, 18 new branches would be opened and 9 extension counters would be upgraded into new branches.
Presently, Cosmos Bank operates 119 branches and extension counters in 6 states and with these new licenses, the Cosmos Bank’s network would be added with 27 new branches.
Additionally, Mr. Goyal stated that in May 2013, Shri Shivaji Sahakari Bank, Gadhinglaj, Kolhapur will be merged with the Cosmos Co-operative Bank. Shivaji Bank has 4 branches in all.
Shri Krishnakumar Goyal, Chairman Cosmos Bank stated that communication in regards to this has been received from the Reserve Bank of India.
According to Mr. Goyal, the RBI would soon issue licenses for these new branches, and followed by the receipt of these licenses, 18 new branches would be opened and 9 extension counters would be upgraded into new branches.
Presently, Cosmos Bank operates 119 branches and extension counters in 6 states and with these new licenses, the Cosmos Bank’s network would be added with 27 new branches.
Additionally, Mr. Goyal stated that in May 2013, Shri Shivaji Sahakari Bank, Gadhinglaj, Kolhapur will be merged with the Cosmos Co-operative Bank. Shivaji Bank has 4 branches in all.