RBI Approves Voluntary Amalgamation of Mekhar Urban Co-op Bank with Nagpur Nagarik Sahakari Bank
Summary
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Mekhar Urban Co-op Bank Ltd., Mekhar with Nagpur Nagarik Sahakari Bank Ltd., Nagpur under Section 44A(4) read with Section 56 of the Banking Regulation Act, 1949. The Scheme takes effect on April 24, 2026, with all branches of The Mekhar Urban Co-op Bank Ltd. operating as branches of Nagpur Nagarik Sahakari Bank Ltd. from that date. This is a single-party voluntary consolidation and does not introduce new industry-wide obligations.
“The Reserve Bank of India, in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949, has sanctioned the Scheme of Amalgamation of The Mekhar Urban Co-op Bank Ltd., Mekhar with Nagpur Nagarik Sahakari Bank Ltd., Nagpur.”
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What changed
RBI has sanctioned the voluntary amalgamation of The Mekhar Urban Co-op Bank Ltd., Mekhar into Nagpur Nagarik Sahakari Bank Ltd., Nagpur, with the Scheme effective April 24, 2026. The legal basis is Section 44A(4) read with Section 56 of the Banking Regulation Act, 1949. All branches of the absorbed bank will operate under the absorbing bank's charter from the effective date.\n\nAffected depositors and counterparties of The Mekhar Urban Co-op Bank Ltd. should verify account continuity with Nagpur Nagarik Sahakari Bank Ltd. following the effective date. No new industry-wide compliance obligations are created by this single-party voluntary consolidation.
Archived snapshot
Apr 24, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Press Releases
| () | |
| Date : Apr 23, 2026 | |
| RBI approves the voluntary amalgamation of The Mekhar Urban Co-op Bank Ltd., Mekhar with Nagpur Nagarik Sahakari Bank Ltd., Nagpur | |
| | The Reserve Bank of India, in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949, has sanctioned the Scheme of Amalgamation of The Mekhar Urban Co-op Bank Ltd., Mekhar with Nagpur Nagarik Sahakari Bank Ltd., Nagpur. The Scheme will come into effect from April 24, 2026 (Friday). All the branches of The Mekhar Urban Co-op Bank Ltd will function as branches of Nagpur Nagarik Sahakari Bank Ltd., Nagpur with effect from April 24, 2026.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/131 | | The Reserve Bank of India, in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949, has sanctioned the Scheme of Amalgamation of The Mekhar Urban Co-op Bank Ltd., Mekhar with Nagpur Nagarik Sahakari Bank Ltd., Nagpur. The Scheme will come into effect from April 24, 2026 (Friday). All the branches of The Mekhar Urban Co-op Bank Ltd will function as branches of Nagpur Nagarik Sahakari Bank Ltd., Nagpur with effect from April 24, 2026.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/131 |
| The Reserve Bank of India, in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949, has sanctioned the Scheme of Amalgamation of The Mekhar Urban Co-op Bank Ltd., Mekhar with Nagpur Nagarik Sahakari Bank Ltd., Nagpur. The Scheme will come into effect from April 24, 2026 (Friday). All the branches of The Mekhar Urban Co-op Bank Ltd will function as branches of Nagpur Nagarik Sahakari Bank Ltd., Nagpur with effect from April 24, 2026.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/131 | |
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