Home › Circulars › RBI/2012-13/456

Sumitomo Mitsui Banking Corporation Added to RBI Second Schedule

Current · Source: Reserve Bank of India · RBI/2012-13/456 · issued 22 Mar 2013 · ~1 min read
Quick answerRBI has officially included Sumitomo Mitsui Banking Corporation in the Second Schedule of the RBI Act, 1934, effective from January 9, 2013. This grants the bank scheduled bank status, subjecting it to RBI's regulatory framework and privileges.
The rule, in the simplest words
How it plays out — a real example

A branch operations officer in Indore, working at a local bank, needs to update their records to reflect Sumitomo Mitsui Banking Corporation's new status as a scheduled bank. They also need to ensure that any transactions with this bank comply with RBI's norms. This is to maintain the integrity of the banking system and prevent any potential risks.

What changed

RBI notified that Sumitomo Mitsui Banking Corporation has been added to the Second Schedule of the RBI Act, 1934, via a notification dated January 9, 2013, published in the Gazette of India on February 2, 2013. This inclusion makes it a scheduled bank under Indian law.

What it means for you

For Indian banks, this means Sumitomo Mitsui Banking Corporation now enjoys the benefits and obligations of a scheduled bank, including access to RBI's liquidity facilities and adherence to reserve requirements. Lenders dealing with this entity should note its enhanced regulatory standing and compliance with RBI norms.

What you must do

Who it affects

All scheduled commercial banks in India, Sumitomo Mitsui Banking Corporation, Regulatory compliance teams

❓ Common questions

Regulatory timeline

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

What does inclusion in the Second Schedule mean for Sumitomo Mitsui Banking Corporation?

It means the bank is now recognized as a scheduled bank under the RBI Act, 1934, entitling it to borrow from RBI at the bank rate and requiring it to maintain CRR and SLR as per RBI norms.

When did this inclusion take effect?

The inclusion was effective from January 9, 2013, as per RBI's notification, and was published in the Gazette of India on February 2, 2013.

Does this change affect other banks' dealings with Sumitomo Mitsui?

Yes, other banks must now treat Sumitomo Mitsui as a scheduled bank, which impacts reserve requirements, interbank lending limits, and regulatory reporting.

📜 Read the original circular — full text as issued by RBI
RBI/2012-13/456 Ref: DBOD. No.Ret. BC. 85/12.07.137/2012-13 March 22, 2013 All Scheduled Commercial Banks Dear Sir, Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Sumitomo Mitsui Banking Corporation We advise that the name of “Sumitomo Mitsui Banking Corporation" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by Notification DBOD.IBD.No.9808/23.13.155/2012-13 dated January 09, 2013, published in the Gazette of India (Part III – Section 4) dated February 2, 2013. Yours faithfully, (Sudha Damodar) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/456 · issued 22 Mar 2013. The plain-English explanation above is BankPulse’s own independent summary.
🧰 Tools — save, print, templates & related
Most relevant forCompliance TeamTreasury Team / ALMCorporate / Wholesale Banking RMTrade Finance / Forex OperationsRisk ManagementInternal Audit
🛠 Banker’s toolkit — checklists & reply templates →
Related circulars · Department of Regulation
SFB Pillar 3 Disclosure Norms Aligned with BaselUCB Deposit Rate Disclosure & Uniformity Rules UpdatedLAB Deposit Rate Disclosure & Uniformity Rules TightenedPayments Banks: Interest Rates Must Match Disclosed ScheduleRBI Updates Bulk Deposit Rate Rules and Disclosure Timing
Browse all departments →
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, Sumitomo Mitsui Banking Corporation, Regulatory compliance teams), your first concrete step on “Sumitomo Mitsui Banking Corporation Added to RBI Second Schedule” is: “Update internal records to reflect Sumitomo Mitsui Banking Corporation as a scheduled bank.” (RBI issued this 22 Mar 2013).

  1. Circular: RBI/2012-13/456 -- Sumitomo Mitsui Banking Corporation Added to RBI Second Schedule
  2. Issued: 22 Mar 2013
  3. Action required: Update internal records to reflect Sumitomo Mitsui Banking Corporation as a scheduled bank.
  4. Action required: Ensure any interbank transactions or exposures comply with scheduled bank norms.
  5. Action required: Monitor RBI circulars for any subsequent regulatory changes affecting this bank.
  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.

💬 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.

Loading comments…
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=7907&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.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
—