RBI approves merger of Akola Merchant Co-operative Bank

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.