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Federal takes over 32 branches of Ganesh bank (BS 12.09.06) It is good times again for the beleaguered depositors of the erstwhile Ganesh Bank of Kurundawad (GBK), thanks to the bank’’s merger with Federal Bank. Over one-and-a-half lakh depositors can now enjoy a number of customer-centric products of the Kerala-based Federal Bank. Federal Bank recently took over over 32 branches of the 85-year-old GBK spread across Maharashtra and Karnataka with deposits of Rs 250 crore and loans of Rs 105 crore. GBK’s loss of Rs 7.5 crore triggered the merger process and even after RBI’s order for the merger, the matter was pending in the Supreme Court. The depositors were agitating for a quick merger and had even sent pleas to the apex court to expedite the merger.