Question
The voluntary amalgamation of New India Co-operative
Bank Ltd. with Saraswat Co-operative Bank Ltd. will take effect on which date?Solution
The RBI approved the merger of New India Co-operative Bank Ltd. with Saraswat Co-operative Bank Ltd. under Section 44A(4) and Section 56 of the Banking Regulation Act, 1949. The effective date of amalgamation is August 04, 2025 (Monday), after which all branches of New India Co-operative Bank will operate as branches of Saraswat Co-operative Bank.
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