The Central Registrar of Cooperative Societies (CRCS) has formally cancelled the registration of New India Co-operative Bank Ltd. following its amalgamation with Saraswat Co-operative Bank Ltd., completing the final statutory process under the Multi-State Cooperative Societies Act, 2002.
The order, issued on Tuesday by Central Registrar of Cooperative Societies Shiv Pal Singh under Section 21(1) of the Act, states that the registration of New India Co-operative Bank as a Multi-State Cooperative Bank stands cancelled with effect from August 4, 2025, the date on which the merger came into force.
The notification follows the approval granted by the Reserve Bank of India (RBI) on July 31, 2025, under Section 44A read with Section 56 of the Banking Regulation Act, 1949, for the scheme of amalgamation between the two cooperative banks.
Under the RBI-approved scheme, New India Co-operative Bank stood dissolved and ceased to function from the effective date of the merger.
