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Cooperative Banking

RBI approves amalgamation of Twin Cities UCB with Kranti UCB

The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Twin Cities Co-operative Urban Bank, Hyderabad, with Kranti Co-operative Urban Bank, Hyderabad.
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 August 23, 2023. The branch of Twin Cities Co-operative Urban Bank will function as a branch of Kranti Co-operative Urban Bank from the same day.

PR Newswire

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