**Summary:**
This notification, issued by the Reserve Bank of India (RBI) on September 30, 2020, announces the exclusion of Syndicate Bank from the Second Schedule to the Reserve Bank of India Act, 1934, effective April 1, 2020. This action follows Syndicate Bank's cessation of banking business from the same date, as per Notification DOR.No.Ret.BC.57/12.01.001/2019-20 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, 5th floor, Amar Building, Sir P.M. Road, Mumbai - 400001. Contact can be made via Tel No: 022-22603000 or Email ID: returnscorbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Syndicate Bank: A public sector bank in India that was excluded from the Second Schedule to the Reserve Bank of India Act, 1934.
Reserve Bank of India Act, 1934: An act of the Indian Parliament that established the Reserve Bank of India.
Second Schedule: A schedule within the Reserve Bank of India Act, 1934, listing banks that meet certain criteria.
DOR.No.Ret.BC.2012.07.150202021: Reference number for the Reserve Bank of India notification.
DOR.No.Ret.BC.5712.01.001201920: Reference number for the notification regarding the cessation of Syndicate Bank's banking business.
Sudhansu Mohan Parida: General Manager at the Reserve Bank of India, Department of Regulation.
Mumbai, Maharashtra: City in India where the Central Office of the Department of Regulation, Reserve Bank of India is located.
भारतीय �रज़व र् बक�
_______________ RESERVE BANK OF INDIA_______________
www.rbi.org.in
RBI/2020-21/47
DOR.No.Ret.BC.20/12.07.150/2020-21 September 30, 2020
All Banks
Madam/Sir
Exclusion of “Syndicate Bank” from the Second Schedule to the Reserve Bank
of India Act, 1934 and cessation as banking company
We advise that “Syndicate Bank” has been excluded from the Second Schedule to
the Reserve Bank of India Act, 1934 with effect from April 01, 2020 since it has
ceased to carry on banking business with effect from April 01, 2020 vide Notification
DOR.No.Ret.BC.57/12.01.001/2019-20 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