RBI approves merger of Akola Merchant Co-operative Bank: The Reserve Bank of India (RBI) approved the merger of The Jalgaon Peoples Co-operative Bank and Akola Merchant Co-operative Bank.
Aim: To streamline operations and services for customers under a unified entity.
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The Akola Merchant Co-operative Bank branches would operate as branches of The Jalgaon Peoples Co-operative Bank.
The merger of Twin Cities Co-operative Urban Bank Ltd and Kranti Co-operative Urban Bank Ltd was also given the go-ahead by the central bank.
