COSMOS BANK
Spacetech startup Agnikul Cosmos raises $17 million at $500 million valuation
The funds, which came from family offices and institutional backers, including Advenza Global Limited, Atharva Green Ecotech LLP, HDFC Bank, Artha Select Fund, Prathithi Ventures, and 100X.VC, will be used to scale production of aerospace and rocket components, push forward Agnikul’s stage-recovery programme, and set up an integrated space campus on the 350 acres of land allocated by the Tamil Nadu government.
RBI okays NCBL, Cosmos Co-operative bank merger
The Reserve Bank of India has approved the merger of the National Co-operative Bank Ltd., Bangalore with Cosmos Co-operative Bank Limited, to take effect from January 6, 2025. Following this, branches of NCBL will operate as Cosmos branches. Previously, RBI imposed an Rs 8.30 lakh penalty on Cosmos for violating certain regulations.
Cosmos to meet RBI’s target for small sized loans at 50% loan book this year
Cosmos Bank, a Pune-based bank, aims to meet the Reserve Bank of India's target of maintaining 50% of its loan portfolio with ticket size less than Rs one crore this fiscal. The bank plans to use its network of 179 branches to achieve this goal. Currently, 43% of the bank's loan book comprises loans below Rs 1 crore. Cosmos Bank plans to raise technology spends to up to 20% of profits and cut costs through automation.
Cosmos Bank to raise tech spends in FY25 to 9 pc of operating expenses
Cosmos Bank is aiming to increase spends on technology to up to 9 per cent of its operating expenses in 2024-25, from the present 7 per cent, a top company official said on Tuesday. The cooperative bank, which was impacted by a cyber attack in the recent past, has been spending 6-7 per cent of the operating expenses, or 10-12 per cent of profits in technology, its Chairman Milind Kale told reporters.
Cosmos Co-operative Bank concludes 18 mergers
Cosmos bank will have a balance sheet size of around Rs 32,000 crore post the merger with the recent amalgamation adding Rs 200 crore to its balance sheet strength. The latest merger is Cosmos Co-operative bank’s tally of merged banks with itself is 18. With this merger Cosmos Bank now has 50 branches in Mumbai while it has 170 branches in 7 states across India.
In a first, Cosmos Cooperative Bank acquires a negative net-worth bank
With this merger, Cosmos Bank now has 40 branches in Mumbai and the bank already has 159 branches in 7 states across India.
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Rupee ends slightly higher, dollar demand caps gains
"On every dip in the USD/INR pair, importers are hedging their positions because everyone is afraid whether the Reserve Bank of India can hold this position (below 80 per dollar) for long," said Ashish Ranade, forex and treasury chief manager at Cosmos Bank.
Cyberattacks up multi-fold in current environment: India's cyber security coordinator
Vulnerabilities will continue to exist and the only solution against those is personal cyber hygiene and technological steps, Pant added.
UN Security Council panel finds Cosmos Bank cyber attack motivated by N Korea
Its report comes nearly seven months after the malware attack on the bank.
North Korean hackers linked to Cosmos Bank heist
Cosmos Bank, a Pune based co-operative had lost Rs 94.42 crore in one of the largest banking heists in the country through withdrawals from more than 14,849 ATMs transactions
Cosmos cyber fraud: Money withdrawn from 28 countries, cops say
On August 11 and 13, unidentified hackers targeted the bank's ATM switch server and stole details of VISA and Rupay ATM cards. They also attacked the interbank SWIFT system, and syphoned off Rs 94 crore in total.
Cosmos Bank cyber fraud: Pune Police forms SIT
"An SIT has been formed to investigate the case," Singh said, adding that she would be supervising the probe and work as a nodal officer to coordinate with various agencies.
North Korean connection to Cosmos hacking? Signs point to Bangladesh heist masterminds
The highly orchestrated event could be the handiwork of Lazarus, North Korea's most prolific hacking group
Cosmos Bank's server hacked; Rs 94 crore siphoned off in 2 days
The debit cards of the cooperative bank customers that were cloned were of Visa and Rupay.
Cosmos Bank offers interest facility for accounts opened under RERA
In this facility, after maintaining a certain balance in the account, the remaining amount is transferred to a flexi-fixed account.
Cosmos Bank posts Rs 137 crore net profit, declares 15% dividend
Cosmos Co-Operative Bank, a multi-state scheduled co-operative bank, has posted excellent financial results for the year ending March 31, 2012.
Urban Co-operative Bank set to merge with Cosmos Co-operative Bank: Sources
Odisha has given its nod for merger of the Urban Co-operative Bank, with the Pune based Cosmos Co-operative Bank.
RBI imposes Rs 5-lakh penalty on Pune's Cosmos Co-op Bank
The Reserve Bank of India (RBI) today said it has imposed a penalty of Rs 5-lakh on Pune-based Cosmos Co-operative Bank for violation of instructions/guidelines.
RBI extends free ATM facility to cooperative bank customers
On Wednesday, RBI issued a circular extending to cooperative banks the same free access to ATM directive that it issued to commercial banks earlier this week.
Cosmos Bank partners with PayMate for mobile payment solutions
Cooperative bank, Cosmos Bank, today said that it has partnered with PayMate to offer 'pay buy sms' service to its customers.
Cosmos Bank awaits RBI nod to raise capital
The Cosmos Co-operative Bank is awaiting the Reserve Bank of India RBI) approval to raise Rs 30 crore to shore up its Tier I capital.
Saraswat gets nod to take over Mandvi Bank
A high-level screening committee of the Reserve Bank of India (RBI) is understood to have cleared the proposal to allow the country’s largest co-operative bank Saraswat Cooperative Bank to take over Mumbai-based Mandvi Cooperative Bank.
Cosmos lead race to buy Suvarna Co-op
Cosmos Bank is the front runner to buy troubled Shree Suvarna Cooperative Bank.
Saraswat weighs Shree Suvarna buyout
Saraswat Bank, the largest multi-state co-operative bank, may consider acquiring Shree Suvarna Bank which has been placed under moratorium by the Reserve Bank of India
Another co operative bank goes bust
After UWB, Pune-based Shree Suvarna Co-operative Bank is the latest bank to go under moratorium.
Shamrao Vithal to take over Mahavir Cooperative Bank
Shamrao Vithal Cooperative Bank (SVC) - which was given the go-ahead by the Reserve Bank of India to acquire Samastanagar Cooperative Bank (SCB) - has withdrawn its acquisition offer due to legal wrangles.
Shamrao Vithal to take over Mahavir Cooperative Bank
Shamrao Vithal Cooperative Bank (SVC) - which was given the go-ahead by the Reserve Bank of India to acquire Samastanagar Cooperative Bank (SCB) - has withdrawn its acquisition offer due to legal wrangles.
Cosmos Coop Bank wants a private tag
Cosmos Co-operative Bank, is toying with the idea of converting itself into a private entity and thereby into the commercial bank mould, provided it gets the nod from the RBI.
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