RBI Approves of Voluntary Amalgamation of ‘Navanirman Co-op Urban Bank’ With ‘Rajadhani Co-op Urban Bank’
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- Last Updated on 4 August, 2023
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Press Release: 2023-2024/689, Dated: 02.08.2023
The RBI has sanctioned the Scheme of Amalgamation of the Navanirman Co-operative Urban Bank Ltd with Rajadhani Co-op. Urban Bank Ltd. The scheme has been sanctioned in the exercise of powers conferred under the Banking Regulation Act, 1949.
Both urban co-operative banks are based in Hyderabad, Telangana. The branch of The Navanirman Co-operative Urban Bank Ltd will function as a branch of the Rajadhani Co-op. Urban Bank Ltd w.e.f August 03, 2023. The Scheme will come into force w.e.f August 03, 2023.
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