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

Last updated: 01 October 2020

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Allahabad Bank has been removed from the Second Schedule of the Reserve Bank of India Act, 1934. This change took effect on April 1, 2020, as the bank stopped its banking operations on the same date. The official notification regarding this exclusion was published in the Gazette of India.

RBI/2020-21/44
DOR.No.Ret.BC.17/12.07.150/2020-21

September 30, 2020

All Banks

Madam/Sir

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

We advise that “Allahabad Bank” has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from April 01, 2020 since it has ceased to carry on banking business with effect from April 01, 2020 vide Notification DOR.No.Ret.BC.54/12.01.001/2019-20 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

FAQ :

Allahabad Bank has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934, and has ceased to operate as a banking company.

Allahabad Bank ceased to be a banking company with effect from April 01, 2020.

Allahabad Bank was excluded from the Second Schedule to the Reserve Bank of India Act, 1934, with effect from April 01, 2020.

The notification was published in the Gazette of India (Part III - Section 4) dated September 26 – October 02, 2020.

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Notification No : RBI/2020-21/44 DOR.No.Ret.BC.17/12.07.150/2020-21
Published in Community & General
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11972&Mode=0

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