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Centurion Bank Renamed in RBI Second Schedule

Current & verified — this is the latest version
Source: Reserve Bank of India · RBI/2005-06/315 · issued 06 Mar 2006 · ~1 min read
Quick answerRBI notified that Centurion Bank Limited's name changed to Centurion Bank of Punjab Limited in the Second Schedule to the RBI Act, 1934, effective October 17, 2005. This formalizes the bank's rebranding for regulatory purposes.
The rule, in the simplest words
How it plays out — a real example

A gold‑loan officer in Indore receives a loan application from a customer who references Centurion Bank of Punjab Limited. She happily updates the system to reflect the new name, ensuring the customer’s file is accurate and the bank’s records stay compliant.

What changed

The name 'Centurion Bank Limited' was replaced with 'Centurion Bank of Punjab Limited' in the Second Schedule to the RBI Act, 1934. The change took effect from October 17, 2005, and was published in the Gazette of India on December 10, 2005.

What it means for you

This is a routine regulatory update reflecting a bank's name change in the official schedule of scheduled commercial banks. For lenders, it ensures that all statutory references and records align with the new name, avoiding confusion in interbank transactions and regulatory filings.

What you must do

Who it affects

All scheduled commercial banks, Centurion Bank of Punjab Limited (formerly Centurion Bank Limited), Regulatory compliance teams

❓ Common questions

Regulatory timeline

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

When did the name change take effect?

The name change to Centurion Bank of Punjab Limited was effective from October 17, 2005, as per RBI notification.

Why was this notification issued?

To formally update the Second Schedule to the RBI Act, 1934, reflecting the bank's name change for legal and regulatory consistency.

📜 Read the original circular — full text as issued by RBI
RBI/2005-06/315 DBOD.Ret.BC.No.66 /12.06.094/2005-06 March 06, 2006 All Scheduled Commercial Banks Dear Sir Alteration in the name of bank in the Second Schedule to the Reserve Bank of India Act, 1934. We advise that the name of ' Centurion Bank Limited ' has been changed to ' Centurion Bank of Punjab Limited ' in the Second Schedule to the Reserve Bank of India Act, 1934 with effect from October 17, 2005, in terms of Notification DBOD.No.PSBD.390/16.01.130/2005-06 dated October 21, 2005, which was published in the Gazette of India ( Part III - Section 4 ) on December 10, 2005 Yours faithfully (S.Oram) Deputy General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2005-06/315 · issued 06 Mar 2006. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
💻 IT / Systems
  • Update internal systems and records to reflect the new bank name 'Centurion Bank of Punjab Limited'.
📜 Compliance
  • Verify that all correspondences and transactions with this bank use the updated name.
  • Inform relevant departments (e.g., treasury, compliance) about the name change for accurate reporting.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (All scheduled commercial banks, Centurion Bank of Punjab Limited (formerly Centurion Bank Limited), Regulatory compliance teams), your first concrete step on “Centurion Bank Renamed in RBI Second Schedule” is: “Update internal systems and records to reflect the new bank name 'Centurion Bank of Punjab Limited'.” (RBI issued this 06 Mar 2006).

  1. Circular: RBI/2005-06/315 -- Centurion Bank Renamed in RBI Second Schedule
  2. Issued: 06 Mar 2006
  3. Action required: Update internal systems and records to reflect the new bank name 'Centurion Bank of Punjab Limited'.
  4. Action required: Verify that all correspondences and transactions with this bank use the updated name.
  5. Action required: Inform relevant departments (e.g., treasury, compliance) about the name change for accurate reporting.
  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=2772&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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