Date: 2020-09-30Category: Not ApplicableState: Union GovernmentCountry: India
Exclusion of “Oriental Bank of Commerce” and “United Bank of India” from the Second Schedule to the Reserve Bank of India Act, 1934 and cessation as banking company
**Summary:**
This Reserve Bank of India (RBI) notification, DOR.No.Ret.BC.1912/07.15.020/2020-21 dated September 30, 2020, informs all banks that Oriental Bank of Commerce and United Bank of India have been excluded from the Second Schedule to the Reserve Bank of India Act, 1934, effective April 1, 2020. This exclusion is due to the banks ceasing to carry on banking business from the same date, as per Notification DOR.No.Ret.BC.56/12.01.001/2019-20 dated March 27, 2020, published in the Gazette of India Part III Section 4 dated September 26 - October 02, 2020. For further information, contact the Department of Regulation, Central Office, RBI at returnscorbi.org.in or Tel No: 022-22603000. The office is located on the 5th floor, Amar Building, Sir P.M. Road, Mumbai-400001. Sudhansu Mohan Parida, General Manager, issued the notification.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking system.
Oriental Bank of Commerce: A bank that was excluded from the Second Schedule to the Reserve Bank of India Act, 1934 and ceased banking business.
United Bank of India: A bank that was excluded from the Second Schedule to the Reserve Bank of India Act, 1934 and ceased banking business.
Second Schedule to the Reserve Bank of India Act, 1934: A schedule within the Reserve Bank of India Act, 1934, listing banks that meet certain criteria.
Reserve Bank of India Act, 1934: An act of the Parliament of India that governs the Reserve Bank of India.
Sudhansu Mohan Parida: General Manager, Department of Regulation, Reserve Bank of India.
Mumbai, Maharashtra: City in India, Location of Central Office, Department of Regulation, Reserve Bank of India.
भारतीय �रज़व र् बक�
_______________ RESERVE BANK OF INDIA_______________
www.rbi.org.in
RBI/2020-21/46
DOR.No.Ret.BC.19/12.07.150/2020-21 September 30, 2020
All Banks
Madam/Sir
Exclusion of “Oriental Bank of Commerce” and “United Bank of India” from the
Second Schedule to the Reserve Bank of India Act, 1934 and cessation as
banking company
We advise that “Oriental Bank of Commerce” and “United Bank of India” 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.56/12.01.001/2019-
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