Home› India› Reserve Bank of India› In exercise of the powers conferred under clause b of sub se...
Date: 26-Dec-2023 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred under clause b of sub section 6 of section 42 of the Reserve Bank of India Act,

Issued by Reserve Bank of India · Not Applicable

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • The Reserve Bank of India (RBI) has issued a notification directing the exclusion of Rupee Co-operative Bank Limited from the second schedule of the Reserve Bank of India Act, 1934.

Key Changes

  • Rupee Co-operative Bank Limited is being removed from the second schedule of the RBI Act, 1934.
  • The notification is issued by the RBI in exercise of powers conferred under clause (b) of sub-section (6) of section 42 of the Reserve Bank of India Act, 1934.

Impact Analysis

Rupee Co-operative Bank Limited

  • Action Item: Rupee Co-operative Bank Limited should assess the impact of this exclusion on its operations and develop a plan to address any potential challenges.

Depositors and Customers of Rupee Co-operative Bank Limited

  • Action Item: Depositors and customers should stay informed about any changes to their accounts or banking services.

Reserve Bank of India

  • Action Item: RBI should be prepared to address any issues that may arise as a result of this exclusion.

Other Co-operative Banks

  • Action Item: Other co-operative banks should ensure they meet the requirements for inclusion in the second schedule of the RBI Act.

Key Entities Referenced

Reserve Bank of India (RBI): The central bank of India, responsible for regulating the banking system and issuing currency. Rupee Co-operative Bank Limited: A co-operative bank that is being excluded from the second schedule of the RBI Act. Reserve Bank of India Act, 1934: The Act that governs the functioning of the Reserve Bank of India and provides it with the necessary powers to regulate the banking system.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-एम.एच.-अ.-26122023-250911 xxxGIDHxxx CG-MH-E-26122023-250911 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 856] नई ददल्ली, मगं लर्ार, ददसम्ब र 26, 2023/पौष 5, 1945 No. 856] NEW DELHI, TUESDAY, DECEMBER 26, 2023/PAUSHA 5, 1945 भारतीय ररज़र् वबकैं अजधसचू ना म ंबई, 29 नर्म् बर, 2023 स.ं डीओआर.आरइिी.एलआईसी.सख्ं या S4847/07.12.000/2023-24.—भारतीय ररज़र्व बैंक अजधजनयम, 1934 (इसके बाद “द आरबीआई अजधजनयम” से संबोजधत) की धारा 42 की उप-धारा (6) के खण्ड (ख) के तहत प्रदत्त िजियों का प्रयोग करते हुए भारतीय ररज़र्व बैंक, एतद्द्वारा, रुपी को-ऑपरेरिर् बैंक, जलजमिेड को आरबीआई अजधजनयम की दसू री अन सूची से हिाए िाने का जनदिे दते ा ह।ै ियन्त क मार दाि, कायवपालक जनदिे क [जर्ज्ञापन-III/4/असा./639/2023-24] RESERVE BANK OF INDIA NOTIFICATION Mumbai, the 29th November, 2023 No. DoR.REG/LIC.No.S4847/07.12.000/2023-24.—In exercise of the powers conferred under clause (b) of sub-section (6) of section 42 of the Reserve Bank of India Act, 1934 (hereinafter referred to as “the RBI Act”), the Reserve Bank of India, hereby, directs the exclusion of Rupee Co-operative Bank Limited from the second schedule of the RBI Act. JAYANT KUMAR DASH, Executive Director [ADVT.-III/4/Exty./639/2023-24] 7940 GI/2023 Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research

Related Documents from Reserve Bank of India