According to the directions of the Union Ministry of Finance’s Department of Financial Services, the Chikmagalur Kodagu Gramin Bank, a regional rural bank (RRB), sponsored by Corporation Bank, was amalgamated with Cauvery Kalpataru Grameena Bank, sponsored by State Bank of Mysore.
In a release to exchanges, Corporation Bank said the amalgamation comes into effect from November 1 vide notification.