The Reserve Bank of India (RBI) has approved the voluntary amalgamation of Jawahar Sahakari Bank Ltd., Hupri with Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd. The merger, approved under Section 44A(4) and Section 56 of the Banking Regulation Act, 1949, will take effect from March 10, 2025.
Following the amalgamation, all branches of Jawahar Sahakari Bank Ltd., Hupri will be integrated into Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd., ensuring a unified operational framework. The move is expected to enhance service delivery and streamline operations for the combined entity’s customers.