The Reserve Bank of India (RBI) has approved the merger of Surat Nagrik Sahkari Bank with Mehsana Urban Cooperative Bank, giving relief to former's 44,000 account holders and depositors in the city.
The account holders and depositors of Surat Nagrik Sahkari Bank were on the tenterhooks after the bank was placed under directions by theRBI under section 25(a) of the Banking Regulation Act, 1949 on March 1.
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