RBI approves merger of Bhavani Sahakari Bank with TJSB Bank

The Reserve Bank of India (RBI) has approved the voluntary amalgamation of The Bhavani Sahakari Bank Ltd., Mumbai, with TJSB Sahakari Bank Ltd., Maharashtra. This decision, sanctioned under the Banking Regulation Act, 1949, will take effect from May 4, 2026.

As per the RBI's announcement, all branches of The Bhavani Sahakari Bank will begin operating as branches of TJSB Sahakari Bank starting May 4, 2026. The move is expected to streamline banking operations and enhance service delivery for customers of both banks.

The amalgamation was approved under Section 44A(4) read with Section 56 of the Banking Regulation Act, which governs the merger of cooperative banks. Such mergers are typically aimed at strengthening the financial position of the involved entities and ensuring better resource management.

TJSB Sahakari Bank, a prominent cooperative bank in Maharashtra, is likely to benefit from an expanded branch network and customer base post-merger. Customers of The Bhavani Sahakari Bank will now have access to TJSB's broader range of banking services.

This development underscores the RBI's ongoing efforts to consolidate the cooperative banking sector, ensuring stability and improved service standards for depositors and borrowers alike.

Source: Reserve Bank of India press release, Thu, 30 Apr 2026 17:55:00. http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=62665