Reserve Bank of Indiabankingcorporate

Amalgamation of Two Sahakari Banks Approved by RBI

May 17, 2026

The RBI has sanctioned the voluntary amalgamation of The Bhavani Sahakari Bank Ltd., Mumbai, with TJSB Sahakari Bank Ltd., effective May 4, 2026.

Amalgamation of Two Sahakari Banks Approved

The Reserve Bank of India has approved the voluntary amalgamation of The Bhavani Sahakari Bank Ltd., Mumbai, with TJSB Sahakari Bank Ltd. This decision is significant as it reflects the central bank’s regulatory jurisdiction under the Banking Regulation Act, 1949.

The Scheme of Amalgamation will take effect from May 4, 2026, and the branches of The Bhavani Sahakari Bank will operate under the TJSB Sahakari Bank name. This move aims to strengthen the banking framework and improve operational capacities for the included institutions.

Legal practitioners should closely monitor the implications of this amalgamation for clients using services from these banks, as this could affect account holdings, services, and operational procedures moving forward.

Citations

RBI Press Release (2026) Scheme of Amalgamation

Practice Areas:banking corporate

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