The Reserve Bank of India (RBI) has approved the merger of Akola Merchant Co-operative Bank with The Jalgaon Peoples Co-operative Bank. The central bank has declared that this strategic decision would take effect on August 28.

• Beginning August 28, the branches of Akola Merchant Co-operative Bank will be smoothly incorporated as branches of The Jalgaon Peoples Co-operative Bank.
• The goal of this integration is to unify operations and services for customers.
• The RBI recently approved the merger of Twin Cities Co-operative Urban Bank Ltd and Kranti Co-operative Urban Bank Ltd, indicating a trend of such mergers in the co-operative banking sector.