The Maharashtra government would decide within eight days on merger of the Rupee Co-operative Bank with the Saraswat Bank, said the State Co-operation Minister Harshvardhan Patil.
The depositors of Rupee Co-operative Bank had opposed the decision of merging Rupee Bank with the Saraswat Bank based on a 75:25 formula. Patil said that till now, proposal of only the Saraswat Bank was worth considering.
The minister said that the losses that the Saraswat Bank will have to bear after merger of Rupee Bank are of Rs 160 crore. Of these, losses of Rs 150 crore can be recovered, said Patil.