- On May 09, 2025, RBI approved the voluntary amalgamation of Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi (Maharashtra) with TJSB Sahakari Bank Ltd.
- The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi (Maharashtra) with TJSB Sahakari Bank Ltd.
- The Scheme has been sanctioned in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949.
- The Scheme will come into force with effect from May 13, 2025.
- The branches of Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi (Maharashtra) will function as branches of TJSB Sahakari Bank Ltd.
On May 09, 2025, RBI approved the voluntary amalgamation of Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi (Maharashtra) with TJSB Sahakari Bank Ltd. (Maharashtra).
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi (Maharashtra) with TJSB Sahakari Bank Ltd. (Maharashtra). The Scheme has been sanctioned in exercise of the powers conferred under sub-section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from May 13, 2025.
The branches of Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi (Maharashtra) will function as branches of TJSB Sahakari Bank Ltd. (Maharashtra) with effect from May 13, 2025.
This marks the expansion of TJSB in the Konkan region and is expected to bring the best practices of governance to these bank branches.