RBI approves amalgamation of Navanirman Co-op Urban Bank with Rajadhani Co-op Urban Bank:

Daily Current Affairs / RBI approves amalgamation of Navanirman Co-op Urban Bank with Rajadhani Co-op Urban Bank:

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Category : Business and economics Published on: August 05 2023

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The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Navanirman Co-operative Urban Bank Ltd with Rajadhani Co-op. Urban Bank Ltd. Both urban co-operative banks are Hyderabad-based.
The branch of The Navanirman Co-operative Urban Bank Ltd will function as a branch of Rajadhani Co-op. Urban Bank Ltd with effect from August 03, 2023, per a RBI statement.
The Scheme will come into force with effect from August 03, 2023,” RBI said.