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July 06, 2015 11:26 PM ET

Banks

Company Overview of Rupee Co-Op Bank Ltd.

Company Overview

Rupee Co-Op Bank Ltd. operates as a co-operative bank in India. It offers deposit products; mortgage, doctor, and smart loans, as well as rent finances; general and life insurance; and DEMAT services, such as depository, buy and sell opportunities in mutual funds, investment opportunities in IPOs, and Reserve Bank of India bonds. Rupee Co-Op Bank was founded in 1912 and is based in Pune, India with branches and ATMs in Mumbai, Thane, Nasik, Kolhapur, Aurangabad, Nagpur, and Dombivali.

2062 Sadashiv Peeth

Ayurved Shikshan Mandal Building

Vijaya Nagar Colony

Pune,  411030

India

Founded in 1912

Phone:

91 20 2433 6598

Fax:

91 20 2433 7519

Key Executives for Rupee Co-Op Bank Ltd.

General Manager and Director
Compensation as of Fiscal Year 2015.

Rupee Co-Op Bank Ltd. Key Developments

Corporation Bank Cancels Bid For Rupee Co-Op Bank

Corporation Bank (BSE:532179) abandons plans to take over Rupee Co-Op Bank Ltd. A senior Corporation Bank official stated on condition of anonymity, "We are not taking up the (Rupee) proposal."

Saraswat Co-operative Bank Eyes Rupee Bank

The Saraswat Co-operative Bank Ltd seeks to acquire Rupee Co-Op Bank Ltd. and had offered to encash the latter's realizable assets of INR 9.96 billion and bring in INR 1.1 billion as its own contribution to cover the non-performing assets and accumulated losses.

Allahabad Bank Eyes Rupee Co-Op Bank

Allahabad Bank (BSE:532480) has evinced interest in acquiring the assets and liabilities of Rupee Co-Op Bank Ltd. Shubhlakshmi Panse, Chairperson and Managing Director of Allahabad Bank, said the bank was interested in the proposal, adding it would like to scale up presence in Pune, which had a thriving middle class and immense business opportunities. Currently, Allahabad Bank has just six branches in Pune. Panse said after chartered accountants conducted due diligence and subsequent to the bank studying a report by accountants, Allahabad Bank would take a decision on the matter.

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