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The acquiring of the Surat City Cooperative Bank by the Bombay Zoroastrian Cooperative Bank is expected to inaugurate a new trend of mergers and acquisitions in the cooperative sector.
The acquisition authorized by the statutory authorities is being seen as a salvage operation. The finances of the Surat City Cooperative Bank had been in a shambles and the bank had a huge loss stacked against it.
However, the acquisition has helped ZCBL transform into a multi-state scheduled urban cooperative ...
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