RBI Approves Mattancherry-Peoples Urban Bank Amalgamation, Kerala
Summary
The Reserve Bank of India has sanctioned the voluntary amalgamation of The Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala with The Peoples' Urban Co-operative Bank Ltd., Tripunithura, Kerala. The Scheme takes effect April 27, 2026 (Monday). All branches of The Mattancherry Mahajanik Co-operative Urban Bank Ltd will function as branches of The Peoples' Urban Co-operative Bank Ltd. from that date. The RBI exercised powers under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949.
“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 Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala with The Peoples' Urban Co-operative Bank Ltd., Tripunithura, Kerala.”
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What changed
The RBI has approved the voluntary amalgamation of two Kerala-based cooperative urban banks. The Mattancherry Mahajanik Co-operative Urban Bank will merge into The Peoples' Urban Co-operative Bank, with all branches of the absorbed bank continuing as branches of the acquiring bank from April 27, 2026.
For affected parties: Customers of Mattancherry Mahajanik Co-operative Urban Bank will now deal with The Peoples' Urban Co-operative Bank as their banking institution. No obligations arise for third parties; this is an administrative restructuring between two named cooperative banks under RBI approval.
Archived snapshot
Apr 25, 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 24, 2026 | |
| RBI approves the voluntary amalgamation of The Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala with The Peoples’ Urban Co-operative Bank Ltd., Tripunithura, Kerala | |
| | 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 Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala with The Peoples’ Urban Co-operative Bank Ltd., Tripunithura, Kerala. The Scheme will come into force with effect from April 27, 2026 (Monday). All the branches of The Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala, will function as branches of The Peoples’ Urban Co-operative Bank Ltd., Tripunithura, Kerala with effect from April 27, 2026.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/142 | | 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 Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala with The Peoples’ Urban Co-operative Bank Ltd., Tripunithura, Kerala. The Scheme will come into force with effect from April 27, 2026 (Monday). All the branches of The Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala, will function as branches of The Peoples’ Urban Co-operative Bank Ltd., Tripunithura, Kerala with effect from April 27, 2026.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/142 |
| 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 Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala with The Peoples’ Urban Co-operative Bank Ltd., Tripunithura, Kerala. The Scheme will come into force with effect from April 27, 2026 (Monday). All the branches of The Mattancherry Mahajanik Co-operative Urban Bank Ltd, Cochin, Kerala, will function as branches of The Peoples’ Urban Co-operative Bank Ltd., Tripunithura, Kerala with effect from April 27, 2026.
(Brij Raj)
Chief General Manager
Press Release: 2026-2027/142 | |
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