**Summary:**
The Reserve Bank of India (RBI) has announced the exclusion of Fincare Small Finance Bank Limited from the Second Schedule to the Reserve Bank of India Act, 1934, effective April 1, 2024. This action follows the bank's cessation of banking business on the same date. The official notification, DOR.HOL.No.S1731602003202425 dated April 8, 2024, was published in the Gazette of India Part III Section 4 on May 14, 2024. Further inquiries can be directed to Latha Vishwanath, Chief General Manager, Department of Regulation, Central Office, 12th/13th Floor, Nariman Bhavan, Nariman Point, Mumbai 400021. The RBI also issued a caution to the public, stating that it does not request personal information such as bank account details or passwords via email, SMS, or phone calls, and does not hold or offer funds to individuals.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking system.
Fincare Small Finance Bank Limited: A small finance bank that has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 and ceased to operate as a banking company.
Reserve Bank of India Act, 1934: An act of the Indian Parliament that established the Reserve Bank of India and governs its operations.
Gazette of India: An official publication of the Government of India, used to publish important notifications and regulations.
Mumbai, Maharashtra: A city in the state of Maharashtra where the Central Office of the Department of Regulation of the Reserve Bank of India is located.
Department of Regulation, Central Office: A department within the Reserve Bank of India.
Latha Vishwanath: Chief General Manager at Reserve Bank of India
भारतीय � रज़वर् बैंक
RESERVE BANK OF INDIA
RBI/2024-25/38
DOR.RET.REC.23/12.07.160/2024-25 May 24, 2024
All Banks
Madam / Dear Sir,
Exclusion of “Fincare Small Finance Bank Limited” from the Second Schedule to the
Reserve Bank of India Act, 1934 and cessation as a banking company
It is informed that “Fincare Small Finance Bank Limited” has been excluded from the Second
Schedule to the Reserve Bank of India Act, 1934 with effect from April 01, 2024, as the bank
has ceased to carry on banking business with effect from April 01, 2024 vide Notification
DOR.HOL.No.S173/16-02-003/2024-25 dated April 08, 2024, which is published in the Gazette
of India (Part III - Section 4) dated May 14, 2024.
Yours faithfully,
(Latha Vishwanath)
Chief General Manager
________________________________________________________________________________________________________________________________________________________
िविनयमन िवभाग, केंद्रीय कायार्लय, 12वी ं और 13वी ं मंिज़ल, नरीमन भवन, नरीमन पॉइंट, मुंबई 400021
Department of Regulation, Central Office, 12th & 13th Floor, Nariman Bhavan, Nariman Point, Mumbai 400021
बैंक िहंदी में पत्राचार का �ागत करता है
Caution: RBI never sends mails, SMSs or makes calls asking for personal information like bank account details, passwords, etc. It never keeps or offers funds
to anyone. Please do not respond in any manner to such offers.