Troubled Goa State Co-op Bank seeks fund

The crisis-ridden Goa State Co-operative Bank (GSCB) has requested over Rs 80 crore from the government towards capitalization reports Navhind Times.

The bank needs the amount to meet the capital adequacy requirement of the RBI. The bank has 70 branches and 640 employees.

The bank is likely to offer VRS to 125 employees to lower manpower cost by Rs 7 to 8 crores a year. Efforts are on to merge five loss-making branches with profitable branches.

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