Current · Source: Reserve Bank of India · RBI/2011-12/117 · issued 22 Jul 2011 · ~2 min read
Quick answerRBI included 5 amalgamated RRBs in the Second Schedule and excluded 11 erstwhile RRBs, effective March 31, 2011, via gazette notifications. This formalizes post-merger legal status for these banks.
The rule, in the simplest words
5 Regional Rural Banks (RRBs) are now included in the Second Schedule of the RBI Act, 1934.
11 erstwhile RRBs are no longer included in the Second Schedule.
This change clarifies the legal identity of RRBs post-amalgamation and ensures they are recognized as scheduled banks under the RBI Act.
Lenders dealing with these RRBs can now rely on their updated status for regulatory compliance.
How it plays out — a real example
A branch operations officer in Indore, working with a scheduled bank, can now confidently verify the updated status of Utkal Gramya Bank, which is now included in the Second Schedule, and ensure regulatory compliance for their transactions with this RRB.
What changed
RBI notified the inclusion of 5 amalgamated Regional Rural Banks (Utkal Gramya Bank, Ballia-Etawah Gramin Bank, Allahabad UP Gramin Bank, Maharashtra Gramin Bank, J&K Grameen Bank) in the Second Schedule of the RBI Act, 1934. Simultaneously, 11 erstwhile RRBs (e.g., Bolangir Anchalik Gramya Bank, Ballia Kshetriya Gramin Bank, Marathwada Gramin Bank) were excluded from the same schedule. Both notifications were published in the Extraordinary Gazette of India on June 13, 2011.
What it means for you
For banks, this update clarifies the legal identity of RRBs post-amalgamation, ensuring they are recognized as scheduled banks under the RBI Act. Lenders dealing with these RRBs can now rely on their updated status for regulatory compliance, including CRR/SLR maintenance and access to RBI facilities. It also streamlines the regulatory framework by removing defunct entities.
What you must do
Update internal records to reflect the new scheduled status of the 5 amalgamated RRBs.
Remove the 11 erstwhile RRBs from your list of scheduled banks for regulatory reporting.
Verify counterparty RRB names in transactions to ensure you are dealing with the correct legal entity post-merger.
Acknowledge receipt of this circular to your respective RBI Regional Office as instructed.
Who it affects
Regional Rural Banks (RRBs), Banks and financial institutions transacting with RRBs, RBI regional offices handling RRB supervision
❓ Common questions
Regulatory timeline
Stated effective dateeffective March 31, 2011
Decoded by BankPulse2026-06-19 00:03 IST
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Why were these RRBs included or excluded from the Second Schedule?
The inclusions and exclusions are a result of amalgamation of RRBs. The 5 new banks are the merged entities, while the 11 excluded banks are the pre-merger entities that ceased to exist.
What is the effective date of these changes?
Both notifications are dated March 31, 2011, and were published in the Extraordinary Gazette on June 13, 2011. The changes are effective from March 31, 2011.
Do I need to take any action if I have existing contracts with the excluded RRBs?
Yes, you should review and update contracts to reference the new amalgamated RRBs as the successor entities, as the old banks are no longer legally recognized.
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/117
RPCD.CO.RRB.BC. No. 12/03.05.100/ 2011-12
July 22, 2011
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 5 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.11377/ 03.05.100/ 2010-11 March 31, 2011 published in the Extraordinary Gazette of India (Part III- Sec.4) dated June 13, 2011.
2. Simultaneously, the names of 11 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.11379/ 03.05.100/ 2010-11 dated March 31, 2011 which was also published in the above-mentioned Extraordinary Gazette of India.
3. A copy each of the above two notifications RPCD.CO.RRB. No. 11377/ 03.05.100/ 2010-11 March 31, 2011 and RPCD.CO.RRB.No.11379/ 03.05.100/ 2010-11 dated March 31, 2011 (in Hindi & English), are enclosed.
4. Please acknowledge receipt to our Regional Office concerned.
Yours faithfully
(C.D.Srinivasan)
Chief General Manager
Encls: As above (4 sheets)
RPCD.CO.RRB.No. 11377/ 03.05.100/ 2010-11
March 31, 2011
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 Regional Rural Banks, namely:
Utkal Gramya Bank, Orissa.
Ballia- Etawah Gramin Bank, Uttar Pradesh.
Allahabad UP Gramin Bank, Uttar Pradesh.
Maharashtra Gramin Bank, Maharashtra.
J & K Grameen Bank, Jammu & Kashmir.
(V.K.Sharma)
Executive Director
RPCD.CO.RRB.No. 11379/ 03.05.100/ 2010-11
March 31, 2011
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:
Bolangir Anchalik Gramya Bank, Orissa.
Kalahandi Anchalika Gramya Bank, Orissa.
Koraput Panchabati Gramya Bank, Orissa.
Ballia Kshetriya Gramin Bank, Uttar Pradesh.
Etawah Kshetriya Gramin Bank, Uttar Pradesh.
Lucknow Kshetriya Gramin Bank, Uttar Pradesh.
Triveni Kshetriya Gramin Bank, Uttar Pradesh.
Marathwada Gramin Bank, Maharashtra.
Maharashtra Godavari Gramin Bank, Maharashtra.
Kamraz Rural Bank, Jammu & Kashmir.
Jammu Rural Bank, Jammu & Kashmir.
(V.K.Sharma)
Executive Director
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/117 · issued 22 Jul 2011. The plain-English explanation above is BankPulse’s own independent summary.
Verify counterparty RRB names in transactions to ensure you are dealing with the correct legal entity post-merger.
📜 Compliance
Update internal records to reflect the new scheduled status of the 5 amalgamated RRBs.
Remove the 11 erstwhile RRBs from your list of scheduled banks for regulatory reporting.
Acknowledge receipt of this circular to your respective RBI Regional Office as instructed.
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 (Regional Rural Banks (RRBs), Banks and financial institutions transacting with RRBs, RBI regional offices handling RRB supervision), your first concrete step on “RRB Schedule Inclusion/Exclusion: 5 Added, 11 Removed” is: “Update internal records to reflect the new scheduled status of the 5 amalgamated RRBs.” (RBI issued this 22 Jul 2011).
Action required: Update internal records to reflect the new scheduled status of the 5 amalgamated RRBs.
Action required: Remove the 11 erstwhile RRBs from your list of scheduled banks for regulatory reporting.
Action required: Verify counterparty RRB names in transactions to ensure you are dealing with the correct legal entity post-merger.
Action required: Acknowledge receipt of this circular to your respective RBI Regional Office as instructed.
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 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=6621&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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