RBI Approves Amalgamations of Citizen Cooperative Bank with TJSB and PCC Bank with PCS Bank
Moneylife Digital Team 10 February 2025
The Reserve Bank of India (RBI) has approved the voluntary amalgamation of two urban cooperative banks (UCBs). The first amalgamation is between Goa-based Citizen Cooperative Bank (CCB) and Thane, Maharashtra-based TJSB Sahakari Bank (TJSB). At the same time, the second involves Satara-based Pune Commercial Cooperative Bank (PCC Bank) merging with Pimpri Chinchwad Sahakari (PCS) Bank from Pune. 
 
In an official statement, RBI confirmed that the scheme of amalgamation of Citizen Cooperative Bank with TJSB Sahakari Bank has been sanctioned under the provisions of the Banking Regulation Act, 1949. This merger will take effect on 10 February 2025 and all branches of the Goa-based CCB will operate as branches of TJSB.
 
Similarly, RBI also approved the scheme of amalgamation for Pune Commercial Cooperative Bank with Pimpri Chinchwad Sahakari Bank under the same legal framework. This merger will also take effect from 10 February 2025, with the branches of the Satara-based PCC Bank functioning as branches of PCS Bank.
 
These amalgamations are part of RBI's ongoing efforts to strengthen and consolidate the urban cooperative banking sector.
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