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RBI approves the voluntary amalgamation of The Suvikas People’s Co-operative Bank Limited, Ahmedabad (Gujarat) with The Kalupur Commercial Co-operative Bank Limited, Ahmedabad (Gujarat)


Reserve-Bank-of-India-RBI.jpg
16 Oct 2023
Categories: Did you know

The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Suvikas People’s Co-operative Bank Limited, Ahmedabad, Gujarat with The Kalupur Commercial Co-operative Bank Limited, Ahmedabad, Gujarat. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from October 16, 2023. The branches of The Suvikas People’s Co-operative Bank Limited, Ahmedabad (Gujarat) will function as branches of The Kalupur Commercial Co-operative Bank Limited, Ahmedabad (Gujarat) with effect from October 16, 2023.

 

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