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RRB Schedule Updates: Baroda UP Bank In, Three Others Out

Current · Source: Reserve Bank of India · RBI/2021-22/133 · issued 22 Nov 2021 · ~2 min read
Quick answerRBI has included Baroda UP Bank in the Second Schedule of the RBI Act, 1934, and excluded three erstwhile RRBs (Baroda Uttar Pradesh Gramin Bank, Kashi Gomti Samyut Gramin Bank, Purvanchal Bank) via notification DOR.Rur.S1765/31.04.002/2021-22 dated October 12, 2021, published in the Extraordinary Gazette of India on November 12, 2021, as communicated in RBI circular dated November 22, 2021.
The rule, in the simplest words
How it plays out — a real example

A branch operations officer in Indore checks her bank's list of approved counterparties and sees Baroda Uttar Pradesh Gramin Bank is still there. She remembers the RBI circular and updates the system to replace it with Baroda UP Bank, so her treasury team can correctly manage loans and reserves with the merged bank.

What changed

RBI notified the inclusion of Baroda UP Bank in the Second Schedule of the RBI Act, 1934, and the exclusion of three erstwhile RRBs: Baroda Uttar Pradesh Gramin Bank, Kashi Gomti Samyut Gramin Bank, and Purvanchal Bank. This change was effected through notification DOR.Rur.S1765/31.04.002/2021-22 dated October 12, 2021, published in the Extraordinary Gazette of India on November 12, 2021, and communicated via RBI circular DOR.Rur.REC.70/31.04.002/2021-22 dated November 22, 2021.

What it means for you

For banks and lenders, this update reflects the ongoing consolidation of Regional Rural Banks, with Baroda UP Bank now recognized as a scheduled bank under the RBI Act. The exclusion of the three erstwhile RRBs means they cease to exist as separate entities, and their operations are merged into the new entity. This impacts regulatory reporting, statutory liquidity requirements, and access to RBI facilities for the merged entities.

What you must do

Who it affects

Regional Rural Banks, Banks with interbank exposures to the affected RRBs, Regulatory compliance teams at banks, Treasury departments managing SLR and CRR obligations

❓ Common questions

What is the Second Schedule of the RBI Act, 1934?

It is the list of banks recognized as scheduled banks by RBI, which entitles them to certain privileges like access to RBI's lending facilities and participation in the clearing system.

Why were these RRBs excluded and included?

The changes are part of the amalgamation of three erstwhile RRBs into Baroda UP Bank, as per RBI's notification. The exclusion removes the old entities, and inclusion recognizes the new merged bank.

Does this affect customers of the erstwhile RRBs?

Yes, customers of Baroda Uttar Pradesh Gramin Bank, Kashi Gomti Samyut Gramin Bank, and Purvanchal Bank are now served by Baroda UP Bank, which assumes all assets and liabilities.

📜 Read the original circular — full text as issued by RBI
RBI/2021-22/133 DOR.Rur.REC.70/31.04.002/2021-22 November 22, 2021 All Regional Rural Banks Madam/Sir, Inclusion in/exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 - Regional Rural Banks (RRBs) We advise that the name of Baroda UP Bank has been included to and names of three erstwhile Regional Rural Banks (RRBs) have been excluded from the Second Schedule to the Reserve Bank of India Act, 1934, by notification DOR.Rur.S1765/31.04.002/2021-22 dated October 12, 2021 published in the Extraordinary Gazette of India (Part III - Section 4) dated November 12, 2021. 2. Copy of the above notification DOR.Rur.S1765/31.04.002/2021-22 dated October 12, 2021 is enclosed . Yours faithfully, (Neeraj Nigam) Chief General Manager-in-Charge Encl: as above DOR.Rur.S1765/31.04.002/2021-22 October 12, 2021 NOTIFICATION In exercise of the powers conferred under clauses (a) and (b) of sub-section (6) of section 42 of the Reserve Bank of India Act, 1934 (hereinafter referred to as “the RBI Act”), the Reserve Bank of India, hereby, directs the exclusion of the Regional Rural Banks indicated below at column no. [A] from the second schedule of the RBI Act and the inclusion of the Regional Rural Bank indicated below at column no. [B] in the second schedule of the RBI Act. Name of the erstwhile Regional Rural Banks [A]
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2021-22/133 · issued 22 Nov 2021. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
🏦 Branch Manager
  • Update your internal records to reflect Baroda UP Bank as a scheduled RRB and remove the three excluded RRBs from your counterparty lists.
📜 Compliance
  • Review any outstanding transactions or exposures with the erstwhile RRBs and ensure they are transferred to Baroda UP Bank.
  • Communicate the change to relevant departments (e.g., treasury, credit, compliance) to align with RBI's updated schedule.
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 Branch Manager at a bank this circular applies to (Regional Rural Banks, Banks with interbank exposures to the affected RRBs, Regulatory compliance teams at banks, Treasury departments managing SLR and CRR obligations), your first concrete step on “RRB Schedule Updates: Baroda UP Bank In, Three Others Out” is: “Update your internal records to reflect Baroda UP Bank as a scheduled RRB and remove the three excluded RRBs from your counterparty lists.” (RBI issued this 22 Nov 2021).

  1. Circular: RBI/2021-22/133 -- RRB Schedule Updates: Baroda UP Bank In, Three Others Out
  2. Issued: 22 Nov 2021
  3. Action required: Update your internal records to reflect Baroda UP Bank as a scheduled RRB and remove the three excluded RRBs from your counterparty lists.
  4. Action required: Review any outstanding transactions or exposures with the erstwhile RRBs and ensure they are transferred to Baroda UP Bank.
  5. Action required: Communicate the change to relevant departments (e.g., treasury, credit, compliance) to align with RBI's updated schedule.
  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=12202&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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