No longer current — withdrawn, no replacement on file yet
Source: Reserve Bank of India · RBI/2010-11/277 · issued 16 Nov 2010 · ~1 min read
Quick answerRBI now allows all licensed UCBs (except those under all-inclusive directions) to open current/SGL accounts with RBI and join INFINET. RTGS membership is restricted to well-managed UCBs with minimum net worth of Rs. 25 crore.
What changed
Previously, UCBs did not have access to INFINET membership, current/SGL accounts with RBI, or RTGS. Now, all licensed UCBs (excluding those under all-inclusive directions) can open current/SGL accounts and join INFINET. RTGS membership is limited to financially sound UCBs with a minimum net worth of Rs. 25 crore.
What it means for you
This move enables UCBs to improve customer service by accessing RBI's payment and settlement infrastructure. For lenders, it levels the playing field with commercial banks, but RTGS access remains conditional on financial strength. UCBs must meet the net worth threshold to offer real-time settlement services.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Check if your UCB is licensed and not under all-inclusive directions to qualify for current/SGL accounts and INFINET.
Assess your UCB's net worth; if it is Rs. 25 crore or more, apply for RTGS membership.
Submit applications to the Regional Director, RBI, Mumbai Office, Fort, Mumbai – 400 001.
Ensure your UCB is well-managed and financially sound before seeking RTGS membership.
Who it affects
All licensed Urban Co-operative Banks (UCBs), UCBs under all-inclusive directions (excluded), UCBs with net worth of Rs. 25 crore or more (eligible for RTGS)
❓ Common questions
Regulatory timeline
Decoded by BankPulse2026-06-19 03:44 IST
repealed_by — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
Status change: withdrawn03 Aug 2026, 04:00 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Which UCBs are eligible for current/SGL accounts and INFINET membership?
All licensed UCBs, except those under all-inclusive directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS), are eligible.
What is the minimum net worth required for RTGS membership?
UCBs must have a minimum net worth of Rs. 25 crore and be financially sound and well-managed to qualify for RTGS membership.
Where should UCBs apply for these facilities?
Eligible UCBs should approach the Regional Director, Reserve Bank of India, Mumbai Office, Fort, Mumbai – 400 001.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
Repealed byRBI/2025-26/100 — Consolidation of Regulations — Withdrawal of circulars (28 Nov 2025)
RBI’s words: “Official withdrawal register entry #1588: UBD.BPD.(PCB).Cir.No.24/12.05.001/2010-11 — "Opening of Current Account and Subsidiary General Ledger Account with Reserve Bank and Membership of Indian Finan”
📜 Read the original circular — full text as issued by RBI
RBI/2010-11/277
UBD.BPD. (PCB).Cir. No.24/12.05.001/2010-11
November 16, 2010
The Chief Executive Officers of
All Urban Co-operative Banks
Dear Sir / Madam,
Opening of Current Account and Subsidiary General Ledger Account with Reserve Bank and Membership of Indian Financial Network (INFINET) and Real Time Gross Settlement (RTGS) System
In the Second Quarter Review of Monetary Policy of the Reserve Bank of India for the Year 2010-11, it was announced that Urban Co-operative Banks (UCBs) would be allowed current account and SGL account with the Reserve Bank as also membership of INFINET and RTGS. The relevant paragraph of the Review is reproduced below.
“ Access to INFINET Membership, Current/SGL Accounts with the Reserve Bank and RTGS Membership for UCBs
97. In order to enable urban co-operative banks (UCBs) to serve their customers better, it is proposed :
• to allow all licensed UCBs (other than those under all inclusive directions) the facility of Indian Financial Network (INFINET) membership, current and Subsidiary General Ledger (SGL) accounts with the Reserve Bank; and
• to allow Real Time Gross settlement (RTGS) membership to only well managed and financially sound UCBs having a minimum net worth of Rs. 25 crore. ”
2. Accordingly, it has been decided to permit all licensed UCBs, other than those under all inclusive Directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS), to open Current Account and Subsidiary General Ledger (SGL) Account with the RBI. Such UCBs are also allowed to take up membership of the INFINET and RTGS. However, for RTGS membership, the UCBs apart from being financially sound and well managed are required to have a minimum net-worth of Rs. 25 crore.
3. Urban Co-operative Banks satisfying the prescribed eligibility criteria and desirous of availing of the above facilities may approach the Regional Director, Reserve Bank of India, Mumbai Office, Fort, Mumbai – 400 001.
Yours faithfully,
(A. Udgata)
Chief General Manager-in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2010-11/277 · issued 16 Nov 2010. The plain-English explanation above is BankPulse’s own independent summary.
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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=6103&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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