Shivalik Mercantile became the 1st urban cooperative bank (UCB) to be converted into an SFB belongs to which state?
West Bengal
Incorrect AnswerMaharashtra
Incorrect AnswerUttar Pradesh
Correct AnswerExplanation:
Shivalik MCB started as a district-level UCB on 5 September 1998 with a single branch in Saharanpur, Uttar Pradesh. Soon, the bank expanded its presence by opening branches across the state. In 2010, the bank acquired a loss-making small bank in Madhya Pradesh’s Dhar and converted it into a profit-making branch within a year, which helped the bank achieve multi-state bank status. Shivalik bank is the largest UCB in Uttar Pradesh, is associated with 8,000 self-help groups, and operates through 31 branches.
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By: Sushank rana