Board has informed that upon the learning of the declaration of moratorium of Ganesh Bank of Kurundwad Ltd, in terms of Section 45 of the Banking Regulation Act, 1949, the Board has resolved to convey to Government of India / Reserve Bank of India, its expression of interest in acquiring / merging of Ganesh Bank of Kurundwad Ltd with the Bank. The company has informed that Central Government has issued an Order of Moratorium in respect of the Ganesh Bank of Kurundwad Ltd. The Bank placed its interest to Reserve Bank of India for acquisition / merger of Ganesh Bank of Kurundwad Ltd with the Bank. The Reserve Bank examined the proposal received from the Bank keeping in view its financial parameters, retail network and synergies as well as strategic advantages. Taking into account the interest of depositors of the Ganesh Bank of Kurundwad Ltd as well as the bank's strengths and weaknesses, the Reserve Bank has prepared a draft scheme of amalgamation of the Ganesh Bank of Kurundwad Ltd with the Bank and on January 09, 2006 palace in public domain a draft scheme of amalgamation of the Ganesh Bank of Kurundwad Ltd with the Bank. (As per BSE Bulletin dated on 10/01/2006) The Federal Bank Ltd has informed the Exchange that Central Government has issued an Order of Moratorium in respect of the Ganesh Bank of Kurundwad Ltd, Registred Office : Kurundwad, Kurundwad - 416106, Kolhapur (District), Maharashtra. The Federal Bank Ltd placed its interest to Reserve Bank of India for acquisition / merger of Ganesh Bank of Kurundwad Ltd with The Federal Bank Ltd. The Reserve Bank examined the proposal received from the Federal Bank keeping in view its financial parameters, retail network and synergies as well as strategic advantages. Taking into account the interest of depositors of the Ganesh Bank of Kurundwad Ltd. as well as the bank's strengths and weaknesses, the Reserve Bank has prepared a draft scheme of amalgamation of the Ganesh Bank of Kurundwad Ltd. with the Federal Bank Ltd and on January 09, 2006 placed in public domain a draft scheme of amalgamation of the Ganesh Bank of Kurundwad Limited with the Federal Bank Limited. (As per NSE Bulletin dated on 12/01/2006) The Bank has informed that Government of India (GOI) vide its notification dated January 24, 2006, has approved the scheme of amalgamation of Ganesh Bank of Kurundwad Ltd with the Bank. The scheme of amalgamation is effective from January 25, 2006. (As per BSE Bulletin dated on 25/01/2006)