The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Suvikas People’s Co-operative Bank Limited, Ahmedabad, Gujarat with The Kalupur Commercial Co-operative Bank Limited, Ahmedabad, Gujarat. 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 October 16, 2023. The branches of The Suvikas People’s Co-operative Bank Limited, Ahmedabad (Gujarat) will function as branches of The Kalupur Commercial Co-operative Bank Limited, Ahmedabad (Gujarat) with effect from October 16, 2023.

It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. GWH.DOS.ADM.No.S163/01-10-101/2023-2024 dated October 12, 2023, has issued certain Directions to The Mahabhairab Co-operative Urban Bank Ltd., Tezpur, whereby, as from the close of business on October 12, 2023, the bank shall not, without prior approval of RBI in writing grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated October 12, 2023, a copy of which is displayed on the bank's website / premises for perusal by interested members of the public. Considering the bank's present liquidity position, no amount from the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions.