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REGULATING CO-OPERATIVE BANKING

This role is, perhaps, the most unheralded aspect of our activities, yet it remains among the most critical. This includes ensuring credit availability to the productive sectors of the economy, establishing institutions designed to build the country's financial infrastructure, expanding access to affordable financial services and promoting financial education and literacy.

Press Release


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Date : Sep 20, 2024
RBI approves the voluntary amalgamation of The Rajapur Sahakari Bank Ltd., Mumbai (Maharashtra) with The Malad Sahakari Bank Ltd., Mumbai (Maharashtra)

The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Rajapur Sahakari Bank Ltd., Mumbai, Maharashtra with The Malad Sahakari Bank Ltd., Mumbai, 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 September 23, 2024. The branches of The Rajapur Sahakari Bank Ltd., Mumbai (Maharashtra) will function as branches of The Malad Sahakari Bank Ltd., Mumbai (Maharashtra) with effect from September 23, 2024.

(Puneet Pancholy)  
Chief General Manager

Press Release: 2024-2025/1142


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