Cosmos Bank

So far, the bank has merged 18 small co-operative banks into itself

Cosmos would have 170 branches in seven states across India

Strategy forms part of lender's aim to expand its network to 200 branches

On August 8, the RBI had ordered cancellation of the banking licence of the ailing UCB from September 22. The high court will take up the matter on October 17

The two leading urban co-operative banks (UCBs) - with over 100 years of history each - will be the first to seek the central bank's nod after the revisit of regulations pertaining to the sector

The cyber cell's aim now is to find out the 'money mules' who were used to withdraw the money using ATMs in foreign countries

The Indian banking industry went in shudders on Tuesday after the Cosmos Bank admitted that it fell victim to an international group of hackers

The unidentified hackers had executed money transfers on two separate occasions -August 11 and August 13- which raises the question of why pro-active measures were not taken on the first night itself