What changed
The name 'Chinatrust Commercial Bank' was changed to 'CTBC Bank Co., Ltd.' in the Second Schedule to the RBI Act, 1934. This change was effected via Notification DBOD.IBD.No.10068/23.13.053/2013-14 dated November 25, 2013, and published in the Gazette of India on February 8, 2014.
What it means for you
For Indian banks and lenders, this is a routine administrative update ensuring the bank's legal name in RBI records matches its new corporate identity. No operational or regulatory changes are required from other banks, but they must use the updated name in all official correspondence and reporting.
What you must do
- Update internal systems and records to reflect the new name 'CTBC Bank Co., Ltd.' for this scheduled bank.
- Ensure all future transactions, reporting, and communications with this bank use the revised name.
- Inform relevant departments (e.g., treasury, compliance) about the name change to avoid discrepancies.
Who it affects
All scheduled commercial banks in India, Compliance and operations teams handling interbank transactions, Regulatory reporting departments
Does this name change affect any existing agreements or contracts with Chinatrust Commercial Bank?
No, the name change is purely administrative. All existing agreements remain valid, but future documents should reference the new name 'CTBC Bank Co., Ltd.'
When did the name change officially take effect?
The change was notified on November 25, 2013, and published in the Gazette of India on February 8, 2014. The RBI circular was issued on February 28, 2014.