Saraswat seeks RBI approval to acquire New India Cooperative Bank

July 2, 2025

Saraswat Cooperative Bank has requested RBI’s approval to acquire New India Cooperative Bank, aiming to alleviate the financial distress of thousands of depositors facing restricted access to their savings due to an RBI moratorium.

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The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.

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