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IDBI Ltd Added to RBI Second Schedule

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Source: Reserve Bank of India · RBI/2004-05/217 · issued 14 Oct 2004 · ~1 min read
Quick answerRBI added Industrial Development Bank of India Limited to the Second Schedule of the RBI Act, 1934, effective October 11, 2004. This grants IDBI scheduled bank status, subjecting it to RBI's regulatory framework and privileges.
The rule, in the simplest words
How it plays out — a real example

A branch operations officer in Mumbai, working at IDBI Ltd, now needs to follow RBI's strict guidelines for lending, ensuring that the bank's gold loans are secure and compliant with RBI's regulations.

What changed

The Reserve Bank of India included 'Industrial Development Bank of India Limited' in the Second Schedule to the RBI Act, 1934, effective from October 11, 2004. This followed the publication of Notification DBOD No. BP.BC.458/21.04.152/2004-05 dated September 30, 2004 in the Gazette of India on October 11, 2004.

What it means for you

IDBI now qualifies as a scheduled bank, gaining access to RBI liquidity facilities and interbank clearing. For other banks, this means IDBI is a regulated entity under RBI's supervisory purview, impacting interbank exposures and compliance requirements.

What you must do

Who it affects

All commercial banks in India, IDBI Ltd and its counterparties, RBI's supervisory and regulatory departments

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

What does inclusion in the Second Schedule mean for IDBI?

It grants IDBI scheduled bank status, making it eligible for RBI's liquidity support, access to the clearing house, and subject to RBI's regulatory framework including CRR and SLR requirements.

When did this change take effect?

The inclusion took effect from October 11, 2004, the date the notification was published in the Gazette of India.

Does this affect other banks' operations with IDBI?

Yes, other banks must now treat IDBI as a scheduled bank for interbank transactions, exposure limits, and regulatory compliance.

📜 Read the original circular — full text as issued by RBI
RBI/2004-05/217 Ref: DBOD. CO. No. Ret. BC. 47 /12.06.121/2004-05 October 14, 2004 22 Ashwina 1926 To, All Commercial Banks Dear Sir, Inclusion in the Second Schedule to Reserve Bank of India Act,1934- "Industrial Development Bank of India Limited" We advise that the name of "Industrial Development Bank of India Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 with effect from October 11, 2004 i.e. the date on which the relative Notification DBOD No. BP.BC.458/21.04.152/2004-05 dated 30 September 2004 was published in the Gazette of India (PART III-Section 4). The address of the bank is as under: Industrial Development Bank of India Limited IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005. Yours faithfully, Sd/- (T.B. Satyanarayan) General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2004-05/217 · issued 14 Oct 2004. The plain-English explanation above is BankPulse’s own independent summary.
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Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All commercial banks in India, IDBI Ltd and its counterparties, RBI's supervisory and regulatory departments), your first concrete step on “IDBI Ltd Added to RBI Second Schedule” is: “Update your internal records to reflect IDBI's scheduled bank status for regulatory reporting.” (RBI issued this 14 Oct 2004).

  1. Circular: RBI/2004-05/217 -- IDBI Ltd Added to RBI Second Schedule
  2. Issued: 14 Oct 2004
  3. Action required: Update your internal records to reflect IDBI's scheduled bank status for regulatory reporting.
  4. Action required: Review interbank exposure limits with IDBI under prudential norms for scheduled banks.
  5. Action required: Ensure compliance with RBI's SLR and CRR requirements for transactions with IDBI as a scheduled bank.
  6. Owner: ____________ Target date: ____________
  7. Board/committee approval needed? Y / N
  8. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=1973&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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