Ganesh-Federal Bank merger comes into effect

Finally, Maharashtra-based Ganesh Bank of Kurundwad has become part of Federal Bank. After the Supreme Court upheld the scheme of amalgamation, the Centre's notification said the amalgamation will be effective from September 2.

Ganesh Bank has eight branches in Karnataka and 24 in Maharashtra. With the amalgamation, the number of branches of Federal Bank in these states has increased to 65.