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Core Purpose

The Reserve Bank of India directs the inclusion of four specific co-operative banks in the Second Schedule to the Reserve Bank of India Act, 1934.

Detailed Summary

The Reserve Bank of India, via Notification F. No. CO.DOR.RAUG.No.S809/08-09-015/2026-2027, issued from Mumbai on May 8, 2026, has exercised its power under clause (a) of sub-section (6) of Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934). This notification directs the inclusion of the following four banks into the Second Schedule of the aforementioned Act: Contai Co-operative Bank Ltd., Contai; Prime Co-operative Bank Ltd., Surat; Shri Veershaiv Co-operative Bank Ltd., Kolhapur; and The Varachha Co-operative Bank Ltd., Surat. The notification was signed by R. Lakshmi Kanth Rao, Executive Director.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-MH-E-22052026-272810 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 336] NEW DELHI, WEDNESDAY, MAY 20, 2026/VAISAKНА 30, 1948 3620 GI/2026 RESERVE BANK OF INDIA NOTIFICATION Mumbai, the 8th May, 2026 F. No. CO.DOR.RAUG.No.S809/08-09-015/2026-2027.— In pursuance of clause (a) of sub-section (6) of Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934), the Reserve Bank of India hereby directs the inclusion in the Second Schedule to the said Act of the following banks, namely: 1. Contai Co-operative Bank Ltd., Contai 2. Prime Co-operative Bank Ltd., Surat 3. Shri Veershaiv Co-operative Bank Ltd., Kolhapur 4. The Varachha Co-operative Bank Ltd., Surat R. LAKSHMI KANTH RAO, Executive Director [ADVT.-III/4/Exty./104/2026-27]

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