**Summary:**
This notification, issued by the Reserve Bank of India (RBI) on September 30, 2020, announces the exclusion of Andhra Bank and Corporation Bank from the Second Schedule to the Reserve Bank of India Act, 1934, effective April 1, 2020. This action follows the banks' cessation of banking business from the same date, as per Notification DOR.No.Ret.BC.5512.01.001/2019-20 dated March 27, 2020, and published in the Gazette of India Part III Section 4 dated September 26 - October 02, 2020.
For further information, contact Sudhansu Mohan Parida, General Manager, Department of Regulation, Central Office, Reserve Bank of India, 5th floor, Amar Building, Sir P.M.Road, Mumbai – 400001. Tel No: 022-22603000. Email ID: returnscorbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking system.
Andhra Bank: A bank that was excluded from the Second Schedule to the Reserve Bank of India Act, 1934 and ceased to carry on banking business.
Corporation Bank: A bank that was excluded from the Second Schedule to the Reserve Bank of India Act, 1934 and ceased to carry on banking business.
Second Schedule to the Reserve Bank of India Act, 1934: A schedule within the Reserve Bank of India Act, 1934, listing eligible banks.
Reserve Bank of India Act, 1934: An act of the Parliament of India that governs the Reserve Bank of India.
April 01, 2020: The date on which Andhra Bank and Corporation Bank ceased to carry on banking business and were excluded from the Second Schedule.
Mumbai, Maharashtra: City in India, location of the Central Office of the Department of Regulation of the Reserve Bank of India.
Sudhansu Mohan Parida: General Manager at Department of Regulation, Central Office, Reserve Bank of India.
भारतीय �रज़व र् बक�
_______________ RESERVE BANK OF INDIA_______________
www.rbi.org.in
RBI/2020-21/45
DOR.No.Ret.BC.18/12.07.150/2020-21 September 30, 2020
All Banks
Madam/Sir
Exclusion of “Andhra Bank” and “Corporation Bank” from the Second
Schedule to the Reserve Bank of India Act, 1934 and cessation as banking
company
We advise that “Andhra Bank” and “Corporation Bank” have been excluded from
the Second Schedule to the Reserve Bank of India Act, 1934 with effect from April
01, 2020 since they have ceased to carry on banking business with effect from April
01, 2020 vide Notification DOR.No.Ret.BC.55/12.01.001/2019-20 dated March 27,
2020, which is published in the Gazette of India (Part III - Section 4) dated September
26 – October 02, 2020.
Yours faithfully
(Sudhansu Mohan Parida)
General Manager
�व�नयमन �वभाग, क�द्र�य कायार्लय, 5वीं मंिजल, अमर भवन, सर पी एम रोड, मुंबई-400001
Department of Regulation, Central Office, 5th floor, Amar Building, Sir P.M.Road, Mumbai-400001
टेल�फोन/Tel No:022-22603000 Email ID: returnsco@rbi.org.in