RBI approves the voluntary amalgamation
FinTech BizNews Service
Mumbai, March 20, 2026: The Reserve Bank of India, in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949, has sanctioned the Scheme of Amalgamation of Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat with Akhand Anand Co-operative Bank Ltd., Surat, Gujarat. The Scheme will come into effect from March 23, 2026 (Monday). All the branches of Lalbaug Co-operative Bank Ltd., Vadodara, Gujarat will function as branches of Akhand Anand Co-operative Bank Ltd., Surat, Gujarat with effect from March 23, 2026.
