Saraswat, Cosmos to seek universal banking licences, says report
Updated : January 27, 2020 09:18 AM IST
Set up in 1918, Saraswat Bank had a total business of Rs 61,811 crore in 2018-19, while Cosmos Bank's (established 1905) was at Rs 26,952 crore.
Saraswat Bank is likely to submit its application to the RBI by the second half of 2020-21.
Cosmos Bank is currently working to strengthen its information technology systems, particularly on the payment and remittances front.