Home › Circulars › RBI/2024-25/26

AB Bank Limited renamed AB Bank PLC in RBI Schedule II

Current · Source: Reserve Bank of India · RBI/2024-25/26 · issued 25 Apr 2024 · ~1 min read
Quick answerRBI has officially changed the name of 'AB Bank Limited' to 'AB Bank PLC' in the Second Schedule of the RBI Act, 1934, effective from a January 2024 notification published in the Gazette of India in March 2024.
The rule, in the simplest words
How it plays out — a real example

A compliance officer named Meera at City Bank receives the RBI notice. She quickly updates the bank’s internal database, sends a friendly memo to the treasury team reminding them to use ‘AB Bank PLC’ in all inter‑bank payments, and checks that the new name appears correctly on the next regulatory filing. This keeps everything smooth and error‑free.

What changed

The name of 'AB Bank Limited' has been altered to 'AB Bank PLC' in the Second Schedule to the Reserve Bank of India Act, 1934. This change was effected by a notification dated January 25, 2024, which was published in the Gazette of India on March 06, 2024.

What it means for you

This is a routine name change notification that updates the official statutory record. For banks and lenders, it means any references to 'AB Bank Limited' in regulatory filings, interbank transactions, or correspondence should now use 'AB Bank PLC'. No operational or regulatory impact beyond updating records.

What you must do

Who it affects

All commercial and co-operative banks in India, Regulatory compliance teams, Interbank transaction processing units

❓ Common questions

Does this name change affect the bank's operations or regulatory status?

No, it is purely a name change in the Second Schedule. The bank's licensing, capital, and regulatory obligations remain unchanged.

When did the name change officially take effect?

The change was notified by RBI on January 25, 2024, and published in the Gazette of India on March 06, 2024.

Do we need to update any existing contracts or agreements with AB Bank?

Yes, it is advisable to update all legal and operational documents to reflect the new name 'AB Bank PLC' to ensure consistency and avoid confusion.

📜 Read the original circular — full text as issued by RBI
RBI/2024-25/26 DOR.RET.REC.18/12.07.160/2024-25 April 25, 2024 All Commercial and Co-operative Banks Madam / Dear Sir, Alteration in the name of "AB Bank Limited" to "AB Bank PLC" in the Second Schedule to the Reserve Bank of India Act, 1934 It is advised that the name of "AB Bank Limited" has been changed to "AB Bank PLC" in the Second Schedule to the Reserve Bank of India Act, 1934 by Notification DOR.LIC.No.S6222/23.13.048/2023-24 dated January 25, 2024, which is published in the Gazette of India (Part III-Section 4) dated March 06, 2024. Yours faithfully, (Manoranjan Padhy) Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2024-25/26 · issued 25 Apr 2024. The plain-English explanation above is BankPulse’s own independent summary.
🧰 Tools — save, print, templates & related
Topics: Co-operative Banks
Most relevant forCompliance TeamIT & Cyber SecurityTreasury Team / ALMTrade Finance / Forex OperationsCorporate / Wholesale Banking RMLegal / Documentation & Recovery-Legal
🛠 Banker’s toolkit — checklists & reply templates →
Key dataSee the live numbers behind this topic: RBI Penalty Tracker, NPA / Asset-Quality Tracker — updated from official RBI data.
Key termsPlain-English definitions of terms in this circular — see the full Indian banking glossary. KYC / AML · Gross NPA (GNPA) · Deposit insurance (DICGC) · Scheduled Commercial Bank (SCB)
Related circulars · Department of Regulation
SFB Pillar 3 Disclosure Norms Aligned with BaselUCB Deposit Rate Disclosure & Uniformity Rules UpdatedLAB Deposit Rate Disclosure & Uniformity Rules TightenedPayments Banks: Interest Rates Must Match Disclosed ScheduleRBI Updates Bulk Deposit Rate Rules and Disclosure Timing
Browse all departments →
Who does what — compliance checklist
💻 IT / Systems
  • Update internal systems and databases to reflect the new name 'AB Bank PLC' for this entity.
📜 Compliance
  • Ensure all future correspondence, transactions, and regulatory references use the corrected name.
  • Inform relevant departments (e.g., treasury, compliance, legal) about the name change to avoid processing errors.
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 (All commercial and co-operative banks in India, Regulatory compliance teams, Interbank transaction processing units), your first concrete step on “AB Bank Limited renamed AB Bank PLC in RBI Schedule II” is: “Update internal systems and databases to reflect the new name 'AB Bank PLC' for this entity.” (RBI issued this 25 Apr 2024).

  1. Circular: RBI/2024-25/26 -- AB Bank Limited renamed AB Bank PLC in RBI Schedule II
  2. Issued: 25 Apr 2024
  3. Action required: Update internal systems and databases to reflect the new name 'AB Bank PLC' for this entity.
  4. Action required: Ensure all future correspondence, transactions, and regulatory references use the corrected name.
  5. Action required: Inform relevant departments (e.g., treasury, compliance, legal) about the name change to avoid processing errors.
  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.

💬 Banker Discussion

Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.

Loading comments…
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=12672&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.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
—