Date: 2015-03-13Category: Extra OrdinaryState: Union GovernmentCountry: India
The Reserve Bank of India hereby directs that the following alterations shall be made with effect from October 20, 2014 in the Second Schedule to the said Act.
**Policy Summary:**
This notification, DBR.RRB. No. 65 / 03.05.33/2014-15, issued by the Reserve Bank of India (RBI) on January 30, 2015, concerns an amendment to the Second Schedule of the Reserve Bank of India Act, 1934 (Act 2 of 1934). Effective from October 20, 2014, the notification substitutes the words "Deccan Grameena Bank" with "Telangana Grameena Bank" in the aforementioned schedule, as per clause (c) of sub-section (6) of Section 42 of the RBI Act, 1934. The notification was issued by N. S. Vishwanathan, Executive Director, Reserve Bank of India.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Reserve Bank of India Act, 1934: A law establishing the Reserve Bank of India and outlining its functions and powers.
Section 42: A section of the Reserve Bank of India Act, 1934 related to the maintenance of cash reserves by scheduled banks.
Second Schedule: A schedule within the Reserve Bank of India Act, 1934 that lists scheduled banks.
Deccan Grameena Bank: A regional rural bank that was previously listed in the Second Schedule of the Reserve Bank of India Act, 1934.
Telangana Grameena Bank: A regional rural bank that is replacing Deccan Grameena Bank in the Second Schedule of the Reserve Bank of India Act, 1934.
Mumbai: The city where the Reserve Bank of India notification was issued.
New Delhi: The city in Delhi where the Government of India Press is located.
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RESERVE BANK OF INDIA
NOTIFICATION
Mumbai, the 30th January, 2015
DBR.RRB. No. 65 /03.05.33/2014-15.—In pursuance of clause (c) of sub section (6) of Section 42 of the
Reserve Bank of India Act, 1934 (2 of 1934), the Reserve Bank of India hereby directs that the following
alterations shall be made with effect from October 20, 2014 in the Second Schedule to the said Act, namely:
For the words ‘‘Deccan Grameena Bank’’ the words ‘‘Telangana Grameena Bank’’ shall be substituted.
N. S. VISHWANATHAN, Executive Director
[ADVT-III/4/Exty./38/14]
1190 GI/2015
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.