Gujrat Co-operative Banks

“Proudly Cooperative is the new brand initiative that the Gujrat State Urban Cooperative Banks Federation wants to undertake for the cooperative banking sector in the state.”

Co-operative Banks in Gujrat have come across many bad situations like the scam of Ketan Parekh and the collapse of some of the co-operative banks. In order to regain the confidence of the investors this is a good initiative taken by the federation to brand them. Now a day the new generation banks are branding themselves and getting more and more customers. So in order to compete with PSUs which are having large customer base and the big brand private banks the co-operative banks have to brand themselves. It will help them to retain the existing customers and attract new customers.

By 2009 the foreign banks will be permitted to operate in India. So the competition in this sector is going to increase. This move taken by the federation is a strategic. The federation is competing not only for the present scenario but also for the future. Indian banking sector is in mergers and acquisition spree. In order to fight with the giant foreign banks the banks are trying to expand them as quick as possible. So they are going for mergers and acquisition. This branding will help the cooperative banks to get a fair price if they are merged or acquired by any other bank.