RBI approves the voluntary amalgamation
FinTech BizNews Service
Mumbai, 31 December, 2024: RBI approves the voluntary amalgamation of The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati (Maharashtra) with The Jalgaon Peoples Co-operative Bank Limited, Jalgaon (Maharashtra)
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati (Maharashtra) with The Jalgaon Peoples Co-operative Bank Limited, Jalgaon (Maharashtra). 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 January 01, 2025 (Wednesday). All the branches of The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati (Maharashtra) will function as branches of The Jalgaon Peoples Co-operative Bank Limited, Jalgaon (Maharashtra) with effect from January 01, 2025.
