Saraswat Co-operative Bank, the largest multistate co-operative bank in the country, is likely to acquire financially-troubled Anyonya Co-op Bank (ACBL) soon. The merger of 118-yearold ACBL, which has 10 branches in Gujarat, is estimated to cost Rs 25 crore to Saraswat Bank. At present, Saraswat Bank has 190 branches in Maharashtra, Karnataka, Goa, Madhya Pradesh, Gujarat and New Delhi. The bank has done a business of Rs 21,000 crore so far in the current financial year. In the last three years, it has acquired six co-operative banks — Maratha Mandir Coop Bank, Mandvi Co-op Bank (Mumbai), Annasaheb Karale Urban Co-op Bank (Sangli), Murdha Rajendra Co-operative Bank (Meerat), South Indian Bank (Mumbai) and Nashik-based Nashik People's Co-op Bank. In the process it has acquired 700,000 depositors.
A stronger dollar or rising interest rates could derail the epic yellow metal mania Before you sell that last piece of jewellery, keep in mind that the gold price will not go up indefinitely. There are number of reasons why it might crash. If you're over weighted in gold or commodities, the warning is the same: A stronger dollar, strengthening US economy or rising interest rates could derail the epic yellow metal mania. Who knows? Congress could even reach an agreement to clear up its balance sheet and pay down its debt. What are the chances of any of this happening? It's beyond the limits of my minuscule, clouded crystal ball, which is about the size of a pin-head. Nevertheless, you should prepare your portfolio for any number of eventualities, which can be easily accomplished with exchange-traded funds. Gold is troublesome in my book because it really isn't an investment. It's a reserve currency of sorts that's heavily traded by institutional investor...
