New Delhi: The Reserve Bank of India (RBI) has approved the voluntary amalgamation of Lalbaug Co-operative Bank Ltd., Vadodara, with Akhand Anand Co-operative Bank Ltd., Surat.
The RBI, 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 between the two co-operative banks, according to an official press release.
As per the approval, the Scheme of Amalgamation will come into ...Read More