RBI excludes OBC & United Bank from Second Schedule to RBI Act, 1934

Reserve Bank of India

RBI/2020-21/46
DOR.No.Ret.BC.19/12.07.150/2020-21

September 30, 2020

All Banks

Madam/Sir

Exclusion of “Oriental Bank of Commerce” and “United Bank of India” from the Second Schedule to the Reserve Bank of India Act, 1934 and cessation as banking company

We advise that “Oriental Bank of Commerce” and “United Bank of India” have been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from April 01, 2020 since they have ceased to carry on banking business with effect from April 01, 2020 vide Notification DOR.No.Ret.BC.56/12.01.001/2019-20 dated March 27, 2020, which is published in the Gazette of India (Part III – Section 4) dated September 26 – October 02, 2020.

Yours faithfully

(Sudhansu Mohan Parida)
General Manager