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Date: 28-Mar-2024 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

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Executive Summary & Key Takeaways

What it means

  • This notification issued by the Reserve Bank of India (RBI) directs the exclusion of Kapol Co-operative Bank Limited from the second schedule of the RBI Act, 1934.

Key Changes

  • Kapol Co-operative Bank Limited is removed from the Second Schedule of the Reserve Bank of India Act, 1934.
  • The notification is issued in exercise of the powers conferred under clause (b) of sub-section (6) of section 42 of the Reserve Bank of India Act, 1934.

Impact Analysis

Other Co-operative Banks

  • Other co-operative banks may need to review their own compliance with the requirements for inclusion in the Second Schedule of the RBI Act.

Kapol Co-operative Bank Limited

  • The bank should communicate this change to its customers and stakeholders.

Depositors and Customers of Kapol Co-operative Bank Limited

  • Customers should contact the bank for clarification on how this change affects their accounts and banking relationship.

Reserve Bank of India

  • The RBI may need to adjust its supervisory approach towards the bank.

Key Entities Referenced

Reserve Bank of India (RBI): The central bank of India, responsible for regulating the banking system and issuing currency. Kapol 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 the legal framework for regulating the banking system.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-30032024-253466 xxxGIDHxxx CG-DL-E-30032024-253466 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 219] नई दिल्ली, बृहस्ट्प जतर्ार, माचव 28, 2024/चत्रै 8, 1946 No. 219] NEW DELHI, THURSDAY, MARCH 28, 2024/CHAITRA 8, 1946 भारतीय ररज़र् व बकैं अजधसचू ना नई दिल् ली, 22 फरर्री, 2024 डीओआर.आरइिी.एलआईसी.सख्ं या S6720/07.12.000/2023-24.—भारतीय ररज़र्व बैंक अजधजनयम, 1934 (इसके बाि “ि आरबीआई अजधजनयम” स े संबोजधत) की धारा 42 की उप-धारा (6) के खण्ड (ख) के तहत प्रित्त िजियों का प्रयोग करते हुए भारतीय ररज़र्व बैंक, एतद्द्वारा, कपोल को-ऑपरेरिर् बैंक, जलजमिेड को आरबीआई अजधजनयम की िसू री अनुसूची स े हिाए िान े का जनििे िेता ह।ै ियन्त कुमार िाि, कायवपालक जनिेिक [जर्ज्ञापन-III/4/असा./881/2023-24] 2322 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] RESERVE BANK OF INDIA NOTIFICATION New Delhi, the 22nd February, 2024 DoR.REG/LIC.No.S6720/07.12.000/2023-24.—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 Kapol Co-operative Bank Limited from the second schedule of the RBI Act. JAYANT KUMAR DASH, Executive Director [ADVT.-III/4/Exty./881/2023-24] 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.

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