Mumbai, January 03: The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The National Co-operative Bank Ltd., Bangalore (Karnataka) with Cosmos Co-operative Bank Limited (Maharashtra).
The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from January 06, 2025.
The branches of The National Co-operative Bank Ltd., Bangalore (Karnataka) will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 06, 2025.
