Current Affairs - Banking - Discussion

The Reserve Bank of India (RBI) has approved the merger of National Co-operative Bank (Bangalore) with Cosmos Co-operative Bank (Maharashtra), effective January 6, 2025. This merger is part of efforts to strengthen the cooperative banking sector. Post-merger, all branches of the National Co-operative Bank will function under the Cosmos Co-operative Bank umbrella. The decision comes after financial restrictions were imposed on the National Co-operative Bank due to weak financial performance, emphasizing the need for consolidation and stability in the sector.