RBI sanctioned the Scheme of Amalgamation
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of the Suvikas People’s Co-operative Bank, Ahmedabad, Gujarat with The Kalupur Commercial Co-operative Bank, 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.
