What changed
The name 'Mizuho Corporate Bank Ltd.' has been replaced with 'Mizuho Bank Ltd.' in the Second Schedule to the Reserve Bank of India Act, 1934. This change was formalized through a notification dated December 27, 2013, and published in the Gazette of India on January 25, 2014.
What it means for you
For Indian banks and lenders, this is a straightforward administrative update with no regulatory or operational impact. It simply reflects the bank's corporate name change in RBI's official records. All references to the bank in interbank transactions, reporting, or documentation should now use the new name.
What you must do
- Update internal systems and records to reflect the new name 'Mizuho Bank Ltd.' for this entity.
- Ensure all correspondence, contracts, and regulatory filings reference the updated name.
- Inform relevant departments (treasury, operations, compliance) about the name change for accurate processing.
Who it affects
All scheduled commercial banks dealing with Mizuho Bank Ltd., Treasury and operations teams handling interbank transactions, Compliance and documentation teams
Does this name change affect any regulatory requirements for other banks?
No, this is purely a name update in the RBI's Second Schedule. There are no new compliance or reporting obligations for other banks.
When did this name change take effect?
The change was notified by RBI on December 27, 2013, and published in the Gazette of India on January 25, 2014.
Do we need to update our system records immediately?
Yes, to avoid any discrepancies in interbank transactions or regulatory reporting, update your systems to reflect the new name as soon as possible.