Bank of Baroda, one of the top five public sector banks in the country, will take over specific assets and liabilities of Mumbai-based Memon Co-operative Bank. The bank has received approvals for the takeover from the Government and the Reserve Bank of
Memon Co-operative Bank has major presence in Mumbai and
Under the proposed takeover scheme, BoB is not obliged to take over the employees of Memon Co-operative.The co-operative bank has about 225 employees and BoB is yet to take a decision in this regard.
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