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United Overseas Bank Ltd added to RBI Second Schedule

Current · Source: Reserve Bank of India · RBI/2009-10/482 · issued 03 Jun 2010 · ~2 min read

Quick answerRBI has included United Overseas Bank Ltd in the Second Schedule of the RBI Act, 1934, effective March 26, 2010. This grants it scheduled bank status, entitling it to central banking facilities like liquidity access and statutory privileges.

The rule, in the simplest words

United Overseas Bank Ltd is now a 'scheduled bank' (a bank listed in a special RBI list that gets extra benefits and rules).
As a scheduled bank, it can borrow money from RBI when needed (liquidity access) and gets special privileges.
It must keep a part of its money with RBI (CRR - Cash Reserve Ratio) and invest in government bonds (SLR - Statutory Liquidity Ratio).
Other banks in India must update their records and check how much they can lend to or deal with this bank (interbank exposure limits).

How it plays out — a real example

A branch operations officer in Indore, Priya, checks her bank's system after hearing that United Overseas Bank Ltd is now a scheduled bank. She updates the internal records so her team knows this foreign bank can now borrow from RBI, and she reviews the lending limits to ensure her bank doesn't lend too much to it without proper checks.

What changed

RBI notified the inclusion of United Overseas Bank Ltd in the Second Schedule to the RBI Act, 1934, via a notification dated March 26, 2010, published in the Gazette of India on April 24, 2010. The notification reference is DBOD.IBD.No.16919/23.03.020/2009-10.

What it means for you

For Indian banks, this means United Overseas Bank Ltd now qualifies as a scheduled bank, eligible for RBI's refinance and liquidity windows. It also implies that this foreign bank must maintain statutory reserves (CRR/SLR) as per RBI norms, impacting interbank operations and competition.

What you must do

Update your internal records to reflect United Overseas Bank Ltd as a scheduled bank for regulatory reporting.
Review interbank exposure limits and counterparty risk assessments for this bank.
Ensure compliance with CRR/SLR maintenance requirements if you have dealings with this bank.
Monitor any changes in liquidity or settlement arrangements with this newly scheduled entity.

Who it affects

All scheduled commercial banks in India, United Overseas Bank Ltd (now a scheduled bank), Interbank market participants

❓ Common questions

Regulatory timeline

Stated effective date effective March 26, 2010
Decoded by BankPulse 2026-06-19 06:08 IST

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 United Overseas Bank Ltd?

It means the bank is now a scheduled bank under the RBI Act, 1934, entitling it to borrow from RBI, access clearing houses, and maintain statutory reserves. It also gains credibility and regulatory recognition.

Does this change affect other banks' operations with United Overseas Bank Ltd?

Yes, other banks must now treat it as a scheduled bank for exposure limits, CRR/SLR calculations, and interbank transactions. It may also impact liquidity management and reporting.

When did this inclusion become effective?

The inclusion was effective from March 26, 2010, as per RBI notification DBOD.IBD.No./16919/23.03.020/2009-10, published in the Gazette of India on April 24, 2010.

📜 Read the original circular — full text as issued by RBI

RBI/2009-10/482

 Ref.DBOD.No.Ret.BC.105/12.06.127/2009-10

 June 03, 2010

 All Scheduled Commercial Banks

 Dear Sir,

 Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934- United Overseas Bank Ltd. 

 We advise that the name of "United Overseas Bank Ltd." has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by notification DBOD.IBD.No./16919/23.03.020/2009-10 dated March 26, 2010 published in the Gazette of India (Part III- Section 4) dated April 24, 2010.

 Yours faithfully,

 (P. K. Mahapatra)

 General Manager

 DBOD.IBD.No.16919/23.03.020/2009-10 

 March 26, 2010

 Notification 

 In pursuance of Clause (a) 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 the inclusion in the Second Schedule to the said Act of the following bank namely:

 “United Overseas Bank Ltd” 

 (Anand Sinha)

 Executive Director

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2009-10/482 · issued 03 Jun 2010. The plain-English explanation above is BankPulse’s own independent summary.

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Who does what — compliance checklist

🏦 Branch Manager

Review interbank exposure limits and counterparty risk assessments for this bank.

⚙️ Operations

Monitor any changes in liquidity or settlement arrangements with this newly scheduled entity.

📜 Compliance

Update your internal records to reflect United Overseas Bank Ltd as a scheduled bank for regulatory reporting.
Ensure compliance with CRR/SLR maintenance requirements if you have dealings with this bank.

Grouped from the action items above — a single circular may involve more than one team.

Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All scheduled commercial banks in India, United Overseas Bank Ltd (now a scheduled bank), Interbank market participants), your first concrete step on “United Overseas Bank Ltd added to RBI Second Schedule” is: “Update your internal records to reflect United Overseas Bank Ltd as a scheduled bank for regulatory reporting.” (RBI issued this 03 Jun 2010).

Circular: RBI/2009-10/482 -- United Overseas Bank Ltd added to RBI Second Schedule
Issued: 03 Jun 2010
Action required: Update your internal records to reflect United Overseas Bank Ltd as a scheduled bank for regulatory reporting.
Action required: Review interbank exposure limits and counterparty risk assessments for this bank.
Action required: Ensure compliance with CRR/SLR maintenance requirements if you have dealings with this bank.
Action required: Monitor any changes in liquidity or settlement arrangements with this newly scheduled entity.
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.

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BankPulse Compliance Evidence Pack — generated 03 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=5707&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.