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Suvarna Sahakari Bank

Suvarna Sahakari Bank was a private Indian co-operative bank started by Dnyaneshwar Agashe in 1969.[1][2][3][4]

It was established to cater to the banking needs, primarily of Pune's middle class Marathi population.[5][6][7][8][9] After the controversial 2004 BCCI election scandal,[10][11][12] the bank is most notable as the central business involved in Agashe's alleged scam case between 2006 and 2008,[13][14][15][16][17][18][19] follow by plans for a merger with Cosmos Bank,[13][20] it was finally dissolved and merged with Indian Overseas Bank in 2009.[21][22]

The bank's failure amidst a political scandal is widely cited today in the Indian banking sector.[23][24][25]

References

  1. ↑ "Dnyaneshwar Agashe cremated - Times of India". The Times of India. http://timesofindia.indiatimes.com/city/pune/Dnyaneshwar-Agashe-cremated/articleshow/3934993.cms. Retrieved 2018-09-15. 
  2. ↑ "Agashe dead; depositors now pin hopes on IOB" (in en-US). The Indian Express. 2009-01-04. http://indianexpress.com/article/cities/pune/agashe-dead-depositors-now-pin-hopes-on-iob/. Retrieved 2018-09-15. 
  3. ↑ "Ex-director of Suvarna bank dies - Times of India". The Times of India. http://m.timesofindia.com/city/pune/Ex-director-of-Suvarna-bank-dies/articleshow/3932406.cms. Retrieved 2018-09-15. 
  4. ↑ "Suvarna Co-op bank case: 15 arrested". epaper.timesofindia.com. Retrieved 2018-09-15.
  5. ↑ "Suvarna protestors halt traffic". epaper.timesofindia.com. Retrieved 2018-09-15.
  6. ↑ "Suvarna Bank Board suspended". epaper.timesofindia.com. Retrieved 2018-09-15.
  7. ↑ "Ghaisas Suvarna bank administrator". epaper.timesofindia.com. Retrieved 2018-09-15.
  8. ↑ "Arrests will not solve problems: depositors". epaper.timesofindia.com. Retrieved 2018-09-15.
  9. ↑ "Token fast outside Suvarna bank today". epaper.timesofindia.com. Retrieved 2018-09-15.
  10. ↑ "BCCI to hold AGM on January 27". The Tribune. Chennai. January 15, 2005. Retrieved 2017-12-17.
  11. ↑ "Factionalism in state scuttled Pawar's chances". The Times of India. http://m.timesofindia.com/city/pune/Factionalism-in-state-scuttled-Pawars-chances/articleshow/868599.cms. Retrieved 2017-03-12. 
  12. ↑ Bureau (2004-09-30). "Pawar out on Dalmiya googly". Business Standard. http://www.business-standard.com/article/economy-policy/pawar-out-on-dalmiya-googly-104093001078_1.html. Retrieved 2017-12-17. 
  13. ↑ 13.0 13.1 Reporter, B. S. (2006-09-12). "Suvarna may merge with Cosmos Co-operative". Business Standard India. https://www.business-standard.com/article/finance/suvarna-may-merge-with-cosmos-co-operative-106091201020_1.html. Retrieved 2018-09-15. 
  14. ↑ Reporter, B. S. (2006-09-14). "Suvarna cheque clearance blocked". Business Standard India. https://www.business-standard.com/article/finance/suvarna-cheque-clearance-blocked-106091401057_1.html. Retrieved 2018-09-15. 
  15. ↑ Reporter, B. S. (2008-11-23). "Pune coop bank in Rs 436-cr scam". Business Standard India. https://www.business-standard.com/article/finance/pune-coop-bank-in-rs-436-cr-scam-108112301024_1.html. Retrieved 2018-09-15. 
  16. ↑ "Suvarna Sahakari Bank placed under moratorium" (in en-US). The Financial Express. http://www.financialexpress.com/archive/suvarna-sahakari-bank-placed-under-moratorium/177877/. Retrieved 2018-09-15. 
  17. ↑ "Cooperative bank fraud lands 21 in soup, 15 arrested - Indian Express". archive.indianexpress.com. Retrieved 2018-09-15.
  18. ↑ "Court rejects bail plea in Suvarna case". epaper.timesofindia.com. Retrieved 2018-09-15.
  19. ↑ "Suvarna case: Court differs order on bail". epaper.timesofindia.com. Retrieved 2018-09-15.
  20. ↑ Reporter, B. S. (2006-09-11). "Shree Suvarna, Cosmos Co-op Bk in merger talks". Business Standard India. https://www.business-standard.com/article/finance/shree-suvarna-cosmos-co-op-bk-in-merger-talks-106091100033_1.html. Retrieved 2018-09-15. 
  21. ↑ Reporter, B. S. (2008-11-26). "Suvarna Sahakari Bank may merge with IOB". Business Standard India. https://www.business-standard.com/article/finance/suvarna-sahakari-bank-may-merge-with-iob-108112601040_1.html. Retrieved 2018-09-15. 
  22. ↑ Reporter, B. S. (2009-02-03). "IOB gets nod to acquire Pune-based co-op bank". Business Standard India. https://www.business-standard.com/article/finance/iob-gets-nod-to-acquire-pune-based-co-op-bank-109020300057_1.html. Retrieved 2018-09-15. 
  23. ↑ "Devendra Fadnavis seeks RBI directive on cooperative bank merger issues" (in en-US). The Financial Express. 2018-06-01. https://www.financialexpress.com/market/devendra-fadnavis-seeks-rbi-directive-on-cooperative-bank-merger-issues/1189085/. Retrieved 2018-09-15. 
  24. ↑ "CM calls high-level meet to resolve Rupee Bank merger - Indian Cooperative" (in en-US). Indian Cooperative. 2018-06-01. http://www.indiancooperative.com/banks/cm-calls-high-level-meet-to-resolve-rupee-bank-merger/. Retrieved 2018-09-15. 
  25. ↑ "Suvarna to pay interests on deposits from Jan". epaper.timesofindia.com. Retrieved 2018-09-15.
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