Kolhapur-based Shree Mahaveer Co-operative Bank (SMCB) is waiting for its merger into the Mumbai-based Shamrao Vitthal Co-operative Bank (SVCB). | |
| SMCB has 25,251 members and while deposits are Rs 30 crore total loans stand at Rs 12 crore. |
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| It has a network of eleven branches, 10 in the Kolhapur district and one in the Sangli district. |
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| When the bank faced a net loss of Rs 92 lakh, the RBI restricted its operations. But the bank is functioning says CEO D B Patil. |
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| But RBI's insistence on computerisation and core banking facility may make survival of the bank difficult as the investment is too high. |
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| The merger scheduled on September 4 would be ultimately in the interests of bank's members and employees. |
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| After the merger, the SVCB would get network of SMCB's branches in the southern Maharashtra with the staff of 83 employees including 14 officers. |
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| As the SVCB is computerised and is linked with wider network in Mumbai and other commercially developed centres, the SMCB's members and clients would get better facilities and services. |
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