What changed
The name 'Calyon Bank' has been replaced with 'Credit Agricole Corporate and Investment Bank' in the Second Schedule to the RBI Act, 1934. This change was effected through a notification dated March 31, 2010, and published in the Gazette of India on April 24, 2010.
What it means for you
For Indian banks and lenders, this is a straightforward administrative update with no operational impact. It ensures that all regulatory references and records align with the bank's new legal name. No changes to banking operations, capital requirements, or reporting obligations are involved.
What you must do
- Update internal records and systems to reflect the new name 'Credit Agricole Corporate and Investment Bank' for any references to the former Calyon Bank.
- Inform relevant departments (e.g., treasury, correspondent banking) about the name change to avoid confusion in transactions.
- No further action required as this is a routine name change with no regulatory compliance impact.
Who it affects
Scheduled commercial banks dealing with Credit Agricole Corporate and Investment Bank, Treasury and correspondent banking teams, Regulatory reporting and compliance departments
Does this name change affect any existing agreements or transactions with the bank?
No, this is purely a name change in the RBI's Second Schedule. Existing agreements and transactions remain valid under the new name.
Do we need to update any regulatory filings due to this change?
No specific regulatory filings are required. However, banks should update their internal records and any references in their systems to reflect the new name.
When did this name change take effect?
The notification was issued on March 31, 2010, and published in the Gazette on April 24, 2010. The RBI circular communicating this was dated June 4, 2010.