- The Reserve Bank of India (RBI) put out a notification (No.
- ADVT.-III/4/Exty./462/2025-26) on October 20, 2025, announcing that a new bank has been added to the Second Schedule of the Reserve Bank of India Act, 1934 (2).
- As per Section 42 (sub-section (6)(c)) of the Reserve Bank of India Act, 1934 (2), the RBI has officially included “Model Co-op.
- The Second Schedule of the Reserve Bank of India (RBI) Act, 1934, lists banks recognized as “scheduled banks.” To be part of this list, banks need to have a minimum paid-up capital of Rs.
- 5 lakh and meet other criteria set by the RBI.
The Reserve Bank of India (RBI) put out a notification (No. ADVT.-III/4/Exty./462/2025-26) on October 20, 2025, announcing that a new bank has been added to the Second Schedule of the Reserve Bank of India Act, 1934 (2).
As per Section 42 (sub-section (6)(c)) of the Reserve Bank of India Act, 1934 (2), the RBI has officially included “Model Co-op. Bank Ltd.” in this important schedule.
The Second Schedule of the Reserve Bank of India (RBI) Act, 1934, lists banks recognized as “scheduled banks.” To be part of this list, banks need to have a minimum paid-up capital of Rs. 5 lakh and meet other criteria set by the RBI. Being included in the second schedule opens up various benefits for banks, such as the ability to borrow from the RBI and take part in clearinghouses.