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SBI Commercial & International Bank Removed from RBI Schedule II

Current · Source: Reserve Bank of India · RBI/2011-12/310 · issued 21 Dec 2011 · ~1 min read
Quick answerRBI excluded State Bank of India Commercial and International Bank Limited from the Second Schedule of the RBI Act, 1934, effective July 29, 2011, as it ceased banking operations. This removes its scheduled bank status.
The rule, in the simplest words
How it plays out — a real example

A compliance officer at a scheduled commercial bank in Mumbai receives the RBI notification. She updates her internal database to mark State Bank of India Commercial and International Bank Limited as 'non-scheduled' and reviews any outstanding interbank loans or deposits with that entity, ensuring no further transactions are made without proper checks.

What changed

RBI notified that the name of State Bank of India Commercial and International Bank Limited has been excluded from the Second Schedule to the RBI Act, 1934. The exclusion was effective from July 29, 2011, as the bank had stopped carrying on banking business.

What it means for you

This entity is no longer a scheduled bank under the RBI Act, losing associated privileges and obligations like access to RBI liquidity facilities and maintaining CRR/SLR. For other banks, this is a regulatory housekeeping update with no direct operational impact.

What you must do

Who it affects

State Bank of India Commercial and International Bank Limited, Scheduled commercial banks with interbank dealings with this entity, RBI's regulatory database and reporting systems

❓ Common questions

Regulatory timeline

Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).

Why was this bank excluded from the Second Schedule?

The bank ceased to carry on banking business with effect from July 29, 2011, as confirmed by RBI.

What does exclusion from the Second Schedule mean?

It means the bank is no longer classified as a scheduled bank under the RBI Act, losing access to central bank facilities and regulatory benefits.

Does this affect other scheduled banks?

No direct impact, but banks should update their records and review any exposures to this entity.

📜 Read the original circular — full text as issued by RBI
RBI/2011-12/310 Ref.DBOD.Ret..BC. No.66/12.06.001/2011-12 December 21, 2011 All Scheduled Commercial Banks Dear Sir, Exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 – State Bank of India Commercial and International Bank Limited We advise that the name of “State Bank of India Commercial and International Bank Limited” has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 by notification DBOD.No.Ret.BC.35/12.06.059/2011-12 dated September 26, 2011 , published in the Gazette of India (Part III – Section-4) dated October 29 – November 04, 2011. Yours faithfully (P. R. Ravi Mohan) Chief General Manager DBOD.No.Ret.BC. 35/12.06.059/2011-2012 September 26, 2011 NOTIFICATION In exercise of the powers conferred under 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 of the "State Bank of India Commercial and International Bank Limited" from the Second Schedule to the said Act, as the said bank has ceased to carry on banking business with effect from July 29, 2011. (B. Mahapatra) Executive Director
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/310 · issued 21 Dec 2011. The plain-English explanation above is BankPulse’s own independent summary.
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Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (State Bank of India Commercial and International Bank Limited, Scheduled commercial banks with interbank dealings with this entity, RBI's regulatory database and reporting systems), your first concrete step on “SBI Commercial & International Bank Removed from RBI Schedule II” is: “Update your internal records to reflect that State Bank of India Commercial and International Bank Limited is no longer a scheduled bank.” (RBI issued this 21 Dec 2011).

  1. Circular: RBI/2011-12/310 -- SBI Commercial & International Bank Removed from RBI Schedule II
  2. Issued: 21 Dec 2011
  3. Action required: Update your internal records to reflect that State Bank of India Commercial and International Bank Limited is no longer a scheduled bank.
  4. Action required: Ensure any interbank exposures or transactions with this entity are reviewed and adjusted accordingly.
  5. Action required: Monitor RBI notifications for any further updates on excluded entities.
  6. Owner: ____________ Target date: ____________
  7. Board/committee approval needed? Y / N
  8. 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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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6886&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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