What changed
The name of the bank in the Second Schedule to the RBI Act, 1934 has been altered from 'Oman International Bank S.A.O.G' to 'HSBC Bank Oman S.A.O.G'. This change was effected by a notification dated September 26, 2012, which was published in the Gazette of India on October 20, 2012.
What it means for you
For Indian banks and lenders, this is a routine administrative update reflecting a corporate rebranding. It ensures that all regulatory references and statutory records align with the new name, avoiding any confusion in interbank transactions or reporting. No operational or compliance changes are required beyond updating internal records.
What you must do
- Update your internal systems and databases to reflect the new name 'HSBC Bank Oman S.A.O.G' for this entity.
- Inform relevant departments (e.g., treasury, correspondent banking) about the name change to ensure accurate processing.
- Review any existing agreements or references to the old name and update them as necessary.
Who it affects
Scheduled commercial banks in India, Correspondent banking teams, Treasury and operations departments
Does this name change affect any regulatory obligations for Indian banks?
No, this is purely a name change in the Second Schedule. All existing regulatory obligations and relationships with the bank remain unchanged.
When did this name change take effect?
The change was notified by RBI on September 26, 2012, and published in the Gazette of India on October 20, 2012.