In a move aimed at strengthening the cooperative banking structure, the Reserve Bank of India has approved the voluntary amalgamation of the Mekhar Urban Co-operative Bank Ltd., Mekhar, with Nagpur Nagarik Sahakari Bank Ltd., Nagpur.
The merger, sanctioned under the provisions of the Banking Regulation Act, 1949, will come into effect from April 24, 2026.
Following the approval, all branches of Mekhar Urban Co-op Bank will operate as branches of Nagpur Nagarik Sahakari Bank, ensuring seamless continuity of services for customers.
Speaking to Indian Cooperative, Nagpur Nagarik Sahakari Bank Chairman Sanjay Bhende confirmed the development, stating that Mekhar Urban Co-operative Bank was a single-unit bank, and with this integration, Nagpur Nagarik Sahakari Bank has completed its sixth successful merger. He added that the bank is actively exploring further consolidation opportunities and remains focused on inorganic growth to expand its footprint.
The development underscores RBI’s continued emphasis on consolidation in the cooperative banking sector to enhance financial stability, operational efficiency, and customer confidence.