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Airtel Payments Bank Added to RBI Second Schedule

Current · Source: Reserve Bank of India · RBI/2021-22/148 · issued 04 Jan 2022 · ~2 min read

Quick answerRBI has officially included Airtel Payments Bank Limited in the Second Schedule of the RBI Act, 1934, effective December 2, 2021, granting it scheduled bank status. This means the bank now meets regulatory capital and reporting standards, enhancing its credibility and access to central bank facilities.

The rule, in the simplest words

Airtel Payments Bank is now a scheduled bank (a bank that follows RBI rules and can use central bank facilities) as of December 2, 2021.
Scheduled banks can borrow from RBI, have lower reserve requirements, and are seen as more trustworthy by customers.
All banks and payment operators must treat Airtel Payments Bank as a scheduled bank in their records and transactions.
Banks need to update their systems, follow RBI rules for scheduled banks (like SLR and CRR), and check risk limits when dealing with Airtel Payments Bank.

How it plays out — a real example

Raj, a senior banker at a Mumbai commercial bank, receives a request from Airtel Payments Bank to open a corporate account. He updates the system to reflect Airtel’s scheduled status, ensures the transaction follows RBI’s scheduled‑bank rules, and gives the client confidence that the account is backed by a fully regulated bank.

What changed

Airtel Payments Bank Limited was added to the Second Schedule of the RBI Act, 1934, via a notification dated December 2, 2021, published in the Gazette of India on January 1-7, 2022. This inclusion officially recognizes it as a scheduled bank under Indian banking law.

What it means for you

For Airtel Payments Bank, scheduled bank status brings eligibility for RBI liquidity facilities, lower reserve requirements, and enhanced trust among depositors and counterparties. For other banks, it means Airtel Payments Bank is now a regulated scheduled entity, impacting interbank transactions and reporting obligations.

What you must do

Update internal systems to reflect Airtel Payments Bank as a scheduled bank for regulatory reporting and interbank dealings.
Ensure compliance with RBI guidelines on transactions with scheduled banks, including SLR and CRR norms.
Review any exposure limits or counterparty risk assessments involving Airtel Payments Bank.

Who it affects

Airtel Payments Bank Limited, All scheduled commercial banks, Payment system operators, RBI regulated entities dealing with payments banks

❓ Common questions

Regulatory timeline

Stated effective date effective December 2, 2021
Decoded by BankPulse 2026-06-18 06:59 IST

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 Airtel Payments Bank?

It means the bank is now a scheduled bank under the RBI Act, entitling it to borrow from RBI, access clearing houses, and maintain lower reserve ratios, while being subject to stricter regulatory oversight.

Does this change affect other banks' reporting requirements?

Yes, other banks must now treat Airtel Payments Bank as a scheduled bank for purposes like CRR/SLR maintenance, interbank lending limits, and reporting to RBI.

When did this inclusion take effect?

The notification was issued on December 2, 2021, and published in the Gazette on January 1-7, 2022, making it effective from the notification date.

📜 Read the original circular — full text as issued by RBI

RBI/2021-22/148 
 DOR.RET.REC.76/12.07.160/2021-22
 January 04, 2022
 All Banks
 Madam/Sir
 Inclusion of “Airtel Payments Bank Limited” in the Second Schedule of the Reserve Bank of India Act, 1934 
 We advise that “Airtel Payments Bank Limited” has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DoR.LIC.No.S2659/16.13.215/2021-22 dated December 02, 2021 and published in the Gazette of India (Part III - Section 4) dated January 01 - January 07, 2022.
 Yours faithfully
 (Sibo Nekhini)
 General Manager

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2021-22/148 · issued 04 Jan 2022. 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 Airtel Payments Bank.

💻 IT / Systems

Update internal systems to reflect Airtel Payments Bank as a scheduled bank for regulatory reporting and interbank dealings.

📜 Compliance

Ensure compliance with RBI guidelines on transactions with scheduled banks, including SLR and CRR norms.

Grouped from the action items above — a single circular may involve more than one team.

Worked example & action-note template

Example: if you are an IT/Systems lead at a bank this circular applies to (Airtel Payments Bank Limited, All scheduled commercial banks, Payment system operators, RBI regulated entities dealing with payments banks), your first concrete step on “Airtel Payments Bank Added to RBI Second Schedule” is: “Update internal systems to reflect Airtel Payments Bank as a scheduled bank for regulatory reporting and interbank dealings.” (RBI issued this 04 Jan 2022).

Circular: RBI/2021-22/148 -- Airtel Payments Bank Added to RBI Second Schedule
Issued: 04 Jan 2022
Action required: Update internal systems to reflect Airtel Payments Bank as a scheduled bank for regulatory reporting and interbank dealings.
Action required: Ensure compliance with RBI guidelines on transactions with scheduled banks, including SLR and CRR norms.
Action required: Review any exposure limits or counterparty risk assessments involving Airtel Payments Bank.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
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=12217&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.