Merger and Acquisition deals, common among corporates today, are also making inroads in the urban cooperative banking sector.As per figures available with the National Federation of Urban Cooperative Banks, 19 co-op banks have already merged with stronger banks while nine more are in the pipeline.
Banks like Saraswat Bank, Shamrao Vithal Co-op Bank and Cosmos Bank have been the major acquirers so far.The co-operative banking sector with over 1,850 banks and total business of about Rs 2,00,000 crore is infested with weakness.
According to Krishna, earlier, there was no organised attempt to revive the weak banks. They would be subjected to many restrictions and eventually go into liquiditation.
Read more in Live Mint article.
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