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The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Twin Cities Co-operative Urban Bank Ltd., Hyderabad, Telangana with Kranti Co-operative Urban Bank Ltd., Hyderabad, Telangana. 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 Ltd., Hyderabad (Telangana) will function as a branch of Kranti Co-operative Urban Bank Ltd., Hyderabad (Telangana) with effect from August 23, 2023. (Yogesh Dayal) Press Release: 2023-2024/792 |
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