Question

    The Government of India has sanctioned and notified the Scheme for the amalgamation of the Punjab and Maharashtra Co-operative Bank Ltd with __________ Small Finance Bank Ltd.

    A Ujjivan Correct Answer Incorrect Answer
    B Unity Correct Answer Incorrect Answer
    C Equitas Correct Answer Incorrect Answer
    D Utkarsh Correct Answer Incorrect Answer
    E Suryoday Correct Answer Incorrect Answer

    Solution

    The Government of India has sanctioned and notified the Scheme for the amalgamation of the Punjab and Maharashtra Co-operative Bank Ltd with Unity Small Finance Bank Ltd. It is to be noted that Section 45 of the Banking Regulation Act, 1949 empowers the Reserve Bank of India to prepare a scheme of reconstruction or amalgamation of banking companies (which include co-operative banks).

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