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Bharatiya Mahila Bank Added to RBI Second Schedule

Current · Source: Reserve Bank of India · RBI/2013-14/599 · issued 21 May 2014 · ~1 min read
Quick answerRBI added Bharatiya Mahila Bank Limited to the Second Schedule of the RBI Act, 1934, effective March 25, 2014. This grants it scheduled bank status, entitling it to central banking facilities and regulatory benefits.
The rule, in the simplest words
How it plays out — a real example

As a branch operations officer in Indore, I need to update our bank's records to recognize Bharatiya Mahila Bank as a scheduled commercial bank, so we can access RBI's liquidity facilities and statutory reserve benefits. I'll also adjust our counterparty risk limits and interbank exposure frameworks to ensure we're in compliance with the new regulations. This will help us better serve our customers and stay competitive in the market.

What changed

RBI notified that Bharatiya Mahila Bank Limited has been included in the Second Schedule to the RBI Act, 1934, via a notification dated March 25, 2014, published in the Gazette of India on April 12, 2014. This formalizes its recognition as a scheduled commercial bank.

What it means for you

For banks, this means Bharatiya Mahila Bank now qualifies for RBI's liquidity facilities, statutory reserve benefits, and interbank market access as a scheduled entity. Lenders should update their counterparty lists and regulatory reporting to reflect this new scheduled bank status.

What you must do

Who it affects

All scheduled commercial banks, Treasury and risk management teams, Regulatory compliance departments

❓ 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 Bharatiya Mahila Bank?

It grants scheduled bank status under the RBI Act, 1934, entitling the bank to access RBI's liquidity facilities, statutory reserve benefits, and participation in the interbank market as a scheduled entity.

When did this inclusion take effect?

The notification was issued on March 25, 2014, and published in the Gazette of India on April 12, 2014. The RBI circular communicating this was dated May 21, 2014.

Do other banks need to take any action?

Yes, banks should update their internal systems to reflect Bharatiya Mahila Bank as a scheduled commercial bank for regulatory reporting, counterparty risk management, and interbank dealings.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/599 Ref: DBOD. No.Ret. BC.112/12.07.138/2013-14 May 21, 2014 All Scheduled Commercial Banks Dear Sir, Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Bharatiya Mahila Bank Limited We advise that the name of “Bharatiya Mahila Bank Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 by Notification DBOD.BP. No.15936/21.07.002/2013-14 dated March 25, 2014, published in the Gazette of India (Part III – Section 4) dated April 12, 2014. Yours faithfully, (Sudha Damodar) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/599 · issued 21 May 2014. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
🏦 Branch Manager
  • Adjust counterparty risk limits and interbank exposure frameworks accordingly.
💻 IT / Systems
  • Ensure regulatory filings and reporting systems reflect this new scheduled bank entry.
📜 Compliance
  • Update internal records to recognize Bharatiya Mahila Bank as a scheduled commercial bank.
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 (All scheduled commercial banks, Treasury and risk management teams, Regulatory compliance departments), your first concrete step on “Bharatiya Mahila Bank Added to RBI Second Schedule” is: “Update internal records to recognize Bharatiya Mahila Bank as a scheduled commercial bank.” (RBI issued this 21 May 2014).

  1. Circular: RBI/2013-14/599 -- Bharatiya Mahila Bank Added to RBI Second Schedule
  2. Issued: 21 May 2014
  3. Action required: Update internal records to recognize Bharatiya Mahila Bank as a scheduled commercial bank.
  4. Action required: Adjust counterparty risk limits and interbank exposure frameworks accordingly.
  5. Action required: Ensure regulatory filings and reporting systems reflect this new scheduled bank entry.
  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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Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8892&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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