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Chhattisgarh Rajya Sahakari Bank Added to RBI Second Schedule

Current · Source: Reserve Bank of India · RBI/2013-14/357 · issued 05 Nov 2013 · ~2 min read
Quick answerRBI has included Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur in the Second Schedule to the RBI Act, 1934, effective from September 16, 2013. This grants it scheduled bank status, enhancing its regulatory standing and access to central bank facilities.
The rule, in the simplest words
How it plays out — a real example

A co-operative bank branch officer in Raipur, working at Chhattisgarh Rajya Sahakari Bank Maryadit, can now easily access RBI refinance to help more customers with gold loans, knowing their bank's upgraded status has opened up more opportunities for them and their clients.

What changed

RBI notified that Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur has been added to the Second Schedule of the RBI Act, 1934. The inclusion was formalized via a notification dated September 16, 2013, published in the Gazette of India on October 25, 2013.

What it means for you

This designation elevates the bank to scheduled bank status, making it eligible for RBI refinance and other privileges. For other cooperative banks, it signals RBI's continued recognition of strong state-level cooperative institutions, potentially influencing interbank confidence and regulatory treatment.

What you must do

Who it affects

State Cooperative Banks, District Central Cooperative Banks, Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur, Banks with interbank dealings with this cooperative bank

❓ 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 a bank?

It grants scheduled bank status under the RBI Act, entitling the bank to borrow from RBI, access clearing house facilities, and enjoy other privileges. It also imposes stricter regulatory compliance.

When did this inclusion take effect?

The notification was issued on September 16, 2013, and published in the Gazette of India on October 25, 2013. The circular was sent to all state and district central cooperative banks on November 5, 2013.

Does this affect other cooperative banks directly?

Not directly, but it reinforces the regulatory framework for cooperative banks. Other banks should update their records and consider the scheduled status when dealing with Chhattisgarh Rajya Sahakari Bank.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/357(A) RPCD.RCB.BC.No.52/07.04.007/2013-14 November 05, 2013 To All State Cooperative Banks/District Central Cooperative Banks Dear Sir, Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur We advise that the name of “Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur " has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by Notification RPCD.RCB.BC.No.34/07.04.007/2013-14 dated September 16, 2013, published in the Gazette of India vide serial no.280 (Extraordinary - Part III - Section 4) dated October 25, 2013. Yours faithfully, (A. G. Ray) General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/357 · issued 05 Nov 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
🏦 Branch Manager
  • Review any exposure limits or counterparty risk assessments involving this bank, as its status change may affect regulatory caps.
📜 Compliance
  • Update your records to reflect Chhattisgarh Rajya Sahakari Bank as a scheduled bank for interbank transactions.
  • Inform relevant internal teams (treasury, credit) about the updated schedule for compliance and operational purposes.
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 (State Cooperative Banks, District Central Cooperative Banks, Chhattisgarh Rajya Sahakari Bank Maryadit, Raipur, Banks with interbank dealings with this cooperative bank), your first concrete step on “Chhattisgarh Rajya Sahakari Bank Added to RBI Second Schedule” is: “Update your records to reflect Chhattisgarh Rajya Sahakari Bank as a scheduled bank for interbank transactions.” (RBI issued this 05 Nov 2013).

  1. Circular: RBI/2013-14/357 -- Chhattisgarh Rajya Sahakari Bank Added to RBI Second Schedule
  2. Issued: 05 Nov 2013
  3. Action required: Update your records to reflect Chhattisgarh Rajya Sahakari Bank as a scheduled bank for interbank transactions.
  4. Action required: Review any exposure limits or counterparty risk assessments involving this bank, as its status change may affect regulatory caps.
  5. Action required: Inform relevant internal teams (treasury, credit) about the updated schedule for compliance and operational purposes.
  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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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=8624&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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