Current · Source: Reserve Bank of India · RBI/2008-09/327 · issued 17 Dec 2008 · ~1 min read
Quick answerRBI included 25 amalgamated RRBs in the Second Schedule and excluded 76 erstwhile RRBs, effective September 22, 2008. This formalizes post-merger bank identities for regulatory compliance.
The rule, in the simplest words
The RBI included 25 amalgamated Regional Rural Banks in the Second Schedule to the RBI Act, 1934.
The RBI excluded 76 erstwhile Regional Rural Banks from the Second Schedule to the RBI Act, 1934.
Only the surviving amalgamated RRBs are recognized as scheduled banks, impacting access to RBI facilities and statutory obligations.
How it plays out — a real example
A branch operations officer in Indore, Mr. Kumar, updated the bank's internal systems to recognize the 25 amalgamated RRBs as scheduled banks, ensuring compliance with RBI regulations and accurate reporting for transactions with these RRBs.
What changed
RBI notified the inclusion of 25 amalgamated Regional Rural Banks in the Second Schedule to the RBI Act, 1934, via notification dated September 22, 2008. Simultaneously, 76 erstwhile RRBs were excluded from the same schedule, reflecting their dissolution post-amalgamation.
What it means for you
For banks, this update ensures that only the surviving amalgamated RRBs are recognized as scheduled banks, impacting their access to RBI facilities and statutory obligations. Lenders dealing with these RRBs must update their records to reflect the new legal entities for compliance and transaction purposes.
What you must do
Update internal systems to recognize the 25 amalgamated RRBs as scheduled banks.
Remove the 76 erstwhile RRBs from your list of scheduled banks to avoid compliance errors.
Verify counterparty details with these RRBs to ensure transactions reference the correct legal entity.
Inform relevant departments (e.g., treasury, credit) about the schedule changes for accurate reporting.
Who it affects
Regional Rural Banks (RRBs), Banks and financial institutions dealing with RRBs, RBI regional offices, Compliance and legal teams in banks
❓ Common questions
Regulatory timeline
Stated effective dateeffective September 22, 2008
Decoded by BankPulse2026-06-19 11:20 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Why were 76 RRBs excluded from the Second Schedule?
These RRBs were excluded because they ceased to exist after amalgamation into 25 new entities, as per RBI's notification dated September 22, 2008.
When did these changes take effect?
The notifications were issued on September 22, 2008, and published in the Gazette of India on November 15, 2008.
Do I need to update my bank's records for these RRBs?
Yes, you must update your systems to reflect the 25 amalgamated RRBs as scheduled banks and remove the 76 erstwhile ones to ensure accurate regulatory compliance.
📜 Read the original circular — full text as issued by RBI
RBI/2008-09/327
RPCD.CO.RRB. No. BC.77 / 03.05.100/2008-09
December 17, 2008
All Regional Rural Banks
Dear Sir,
Inclusion in / exclusion from the Second Schedule to the
Reserve Bank of India Act, 1934 – Regional Rural Banks (RRBs)
We advise that the names of 25 amalgamated Regional Rural Banks have been included in the Second Schedule to the Reserve Bank of India Act, 1934 by notification RPCD.CO.RRB.No.3231/03.05.100 /2008-09 dated September 22, 2008 published in the Gazette of India (Part III- Sec.4) dated November 15, 2008.
2. Simultaneously we advise that the names of 76 erstwhile Regional Rural Banks have been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 by notification RPCD.CO.RRB.No.3230/03.05.100 /2008-09 dated September 22, 2008 published in the Gazette of India (Part III- Sec.4) dated November 15, 2008.
3. Copies of the above two notifications RPCD.CO.RRB.No.3231 /03.05.100 /2008-09 and RPCD.CO.RRB.No.3230 /03.05.100 /2008-09 dated September 22, 2008 are enclosed.
4. Please acknowledge receipt to our Regional Office concerned.
Yours faithfully
(G.Srinivasan)
Chief General Manager-in-Charge
RPCD.CO.RRB.No.3230 /03.05.100 /2008-09
September 22, 2008
NOTIFICATION
In pursuance of clause (b) 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 exclusion from the Second Schedule to the said Act of the following Regional Rural Banks, namely:
"1
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-09/327 · issued 17 Dec 2008. The plain-English explanation above is BankPulse’s own independent summary.
Verify counterparty details with these RRBs to ensure transactions reference the correct legal entity.
💻 IT / Systems
Update internal systems to recognize the 25 amalgamated RRBs as scheduled banks.
📜 Compliance
Remove the 76 erstwhile RRBs from your list of scheduled banks to avoid compliance errors.
Inform relevant departments (e.g., treasury, credit) about the schedule changes 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 (Regional Rural Banks (RRBs), Banks and financial institutions dealing with RRBs, RBI regional offices, Compliance and legal teams in banks), your first concrete step on “RRB Schedule Inclusion/Exclusion: 25 New, 76 Removed” is: “Update internal systems to recognize the 25 amalgamated RRBs as scheduled banks.” (RBI issued this 17 Dec 2008).
Action required: Update internal systems to recognize the 25 amalgamated RRBs as scheduled banks.
Action required: Remove the 76 erstwhile RRBs from your list of scheduled banks to avoid compliance errors.
Action required: Verify counterparty details with these RRBs to ensure transactions reference the correct legal entity.
Action required: Inform relevant departments (e.g., treasury, credit) about the schedule changes for accurate reporting.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
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.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 05 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=4714&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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