What changed
RBI assigned Indian Overseas Bank as the lead bank for the newly created Mayiladuthurai district, carved from Nagapattinam. A new district working code '00Q' was allotted for BSR reporting. Lead bank responsibilities for other districts remain unchanged.
What it means for you
Banks operating in Mayiladuthurai must now coordinate with Indian Overseas Bank for lead bank functions like credit planning and financial inclusion. The new working code '00Q' must be used in BSR returns for transactions in this district. No operational changes for other Tamil Nadu districts.
What you must do
- Update internal systems with new district working code '00Q' for Mayiladuthurai.
- Ensure BSR reporting for Mayiladuthurai transactions uses the new code.
- Liaise with Indian Overseas Bank for lead bank activities in the new district.
- Verify no changes are needed for other Tamil Nadu district codes.
Who it affects
All banks operating in Tamil Nadu, Indian Overseas Bank (as lead bank for Mayiladuthurai), Banks submitting BSR returns
What is the new district working code for Mayiladuthurai?
The code is '00Q' (to be read as zero zero Q), as per RBI notification.
Does this affect lead bank responsibilities for other Tamil Nadu districts?
No, there is no change for the erstwhile district or any other district in the state.