In a significant move for Kerala’s cooperative banking sector, the Reserve Bank of India has approved the voluntary amalgamation of the Mattancherry Mahajanik Co-operative Urban Bank Ltd., Cochin with The Peoples’ Urban Co-operative Bank Ltd., Tripunithura.
The approval has been granted under the provisions of the Banking Regulation Act, 1949, marking another step towards consolidation and strengthening of urban cooperative banks in the country.
The merger will come into effect from April 27, 2026. Following the amalgamation, all branches of Mattancherry Mahajanik Co-operative Urban Bank will operate as branches of Peoples’ Urban Co-operative Bank, ensuring seamless continuity of banking services for customers.
The move is expected to enhance operational efficiency, improve financial stability, and deliver improved banking services to members and depositors, further strengthening confidence in the cooperative banking system.
