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National Australia Bank Added to RBI Second Schedule

Current · Source: Reserve Bank of India · RBI/2011-12/456 · issued 19 Mar 2012 · ~1 min read
Quick answerRBI has included National Australia Bank in the Second Schedule of the RBI Act, 1934, effective January 9, 2012. This grants it scheduled bank status, enabling access to central bank facilities and regulatory benefits.
The rule, in the simplest words
How it plays out — a real example

A branch operations officer in Indore, Mr. Kumar, must ensure that his bank follows RBI rules when lending to customers who have taken loans from National Australia Bank. He reviews the CRR and SLR requirements to ensure compliance and updates the bank's records to reflect National Australia Bank's scheduled bank status.

What changed

RBI notified that National Australia Bank's name was added to the Second Schedule under the RBI Act, 1934, via a notification dated January 9, 2012, published in the Gazette of India on February 4, 2012. This inclusion was communicated to all scheduled commercial banks on March 19, 2012.

What it means for you

For Indian banks, this means National Australia Bank is now recognized as a scheduled bank, eligible for RBI liquidity facilities and subject to statutory requirements like CRR/SLR. It also enhances its credibility in interbank transactions and regulatory compliance.

What you must do

Who it affects

All scheduled commercial banks in India, National Australia Bank's India operations, RBI's regulatory and supervisory departments

❓ Common questions

Regulatory timeline

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

What is the Second Schedule of the RBI Act?

It is a list of banks recognized as scheduled banks under the RBI Act, 1934, entitling them to borrow from RBI and subjecting them to certain statutory requirements.

Does this change affect existing banking operations with National Australia Bank?

Yes, it formalizes its scheduled bank status, which may impact interbank lending, reserve requirements, and regulatory treatment from the effective date.

📜 Read the original circular — full text as issued by RBI
RBI/2011-12/456 Ref: DBOD. No.Ret. BC.88 /12.06.134 /2011-12 March 19, 2012 All Scheduled Commercial Banks Dear Sir, Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – National Australia Bank We advise that the name of “National Australia Bank” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by notification DBOD. IBD. No. 10193 / 23.13.085/2011-12 dated January 09, 2012 , published in the Gazette of India (Part III – Section 4) dated February 04, 2012. Yours faithfully, (P. R. Ravi Mohan) Chief General Manager DBOD.IBD.No.10193/23.13.085/2011-12 January 9, 2012 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: “National Australia Bank” (B. Mahapatra) Executive Director
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/456 · issued 19 Mar 2012. 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 (All scheduled commercial banks in India, National Australia Bank's India operations, RBI's regulatory and supervisory departments), your first concrete step on “National Australia Bank Added to RBI Second Schedule” is: “Update internal records to reflect National Australia Bank as a scheduled bank for regulatory reporting.” (RBI issued this 19 Mar 2012).

  1. Circular: RBI/2011-12/456 -- National Australia Bank Added to RBI Second Schedule
  2. Issued: 19 Mar 2012
  3. Action required: Update internal records to reflect National Australia Bank as a scheduled bank for regulatory reporting.
  4. Action required: Ensure compliance with RBI norms for transactions with scheduled banks, including CRR/SLR applicability.
  5. Action required: Review interbank exposure limits and risk management policies to include this new scheduled entity.
  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=7074&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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