What changed
The Reserve Bank of India has updated the Second Schedule to the RBI Act, 1934, replacing the name 'North East Small Finance Bank Limited' with 'slice Small Finance Bank Limited'. This change was effected through Notification DoR.LIC.No.S1134/16.13.216/2025-26 dated May 14, 2025, and published in the Gazette of India on May 16, 2025.
What it means for you
For banks and lenders, this is a formal regulatory name change that must be reflected in all internal systems, records, and communications. The entity now legally operates as slice Small Finance Bank, and any references to the old name in contracts, databases, or reporting should be updated to avoid compliance gaps.
What you must do
- Update your internal systems and databases to reflect the new name 'slice Small Finance Bank Limited'.
- Amend any existing contracts, agreements, or legal documents that reference the old name.
- Inform your operations and compliance teams to use the new name in all regulatory filings and correspondence.
- Review and update any interbank settlement or payment instructions involving this bank.
Who it affects
All scheduled commercial banks, Small finance banks, Payment system operators, Regulatory compliance teams, Legal and documentation departments
When did the name change become effective?
The name change was effected by RBI notification dated May 14, 2025, and published in the Gazette of India on May 16, 2025.
Does this change affect the bank's regulatory status?
No, the bank remains a small finance bank under the Second Schedule of the RBI Act, 1934, only its name has been altered.