RBI notification on Uttar Pradesh State Cooperative Bank
Meta description: RBI notification on Uttar Pradesh State Cooperative Bank updates the bank’s official name in the Second Schedule to the RBI Act. Read more at pessnews.in
RBI issues notification on name change
The Reserve Bank of India has officially announced a change in the name of a major cooperative bank listed in the Second Schedule of the RBI Act, 1934. As per the latest notification issued from Mumbai on 17 September 2025, the entry for “Uttar Pradesh Cooperative Bank Limited, Lucknow” has now been updated to “Uttar Pradesh State Cooperative Bank Limited, Lucknow.” This amendment ensures that the official name used by the bank in all RBI-related documentation matches its current legal identity.
Legal amendment under Section 42 of the RBI Act
The update has been made in accordance with clause (c) of sub-section (6) of Section 42 of the Reserve Bank of India Act, 1934. This section empowers the central bank to modify entries in the Second Schedule, which lists banks eligible for inclusion under certain statutory provisions of the Act. The Second Schedule primarily includes banks that meet the conditions necessary for being recognized as scheduled banks in India.
The notification, signed by Executive Director R. Lakshmi Kanth Rao, formalizes this change in the official records of the Reserve Bank. While the amendment may appear minor, such updates are important for maintaining accuracy and consistency in India’s banking framework.
About the Second Schedule of the RBI Act
The Second Schedule to the Reserve Bank of India Act, 1934, lists all banks that qualify as “scheduled banks.” These institutions enjoy certain privileges, including access to facilities from the RBI and eligibility to maintain accounts with it. To be included in this list, banks must meet specific criteria related to their capital structure, management, and operational conduct.
Scheduled status is often a sign of credibility and regulatory compliance. It also plays a vital role in maintaining transparency and public confidence in the financial system. Whenever there is a change in the name or structure of a listed bank, the Reserve Bank updates the Schedule through an official notification such as this one.
Role of the Uttar Pradesh State Cooperative Bank
The Uttar Pradesh State Cooperative Bank Limited, headquartered in Lucknow, serves as the apex body for the cooperative banking network in the state. It supports a wide range of district cooperative banks and rural credit societies that provide financial services to farmers, small enterprises, and rural communities. The bank plays a crucial role in facilitating credit flow for agriculture and allied sectors in Uttar Pradesh.
By ensuring the correct legal name is reflected in RBI’s records, the notification helps streamline administrative processes and reinforces the cooperative bank’s official standing within the national banking system.
What the notification means for stakeholders
For customers and partner institutions, this change does not affect banking operations, deposit accounts, or lending processes. It is purely a statutory update to align the RBI’s schedule with the bank’s current registration name. However, stakeholders are advised to use the updated name “Uttar Pradesh State Cooperative Bank Limited, Lucknow” in all formal communications and documents moving forward.
The Reserve Bank of India regularly issues such notifications to ensure that its statutory lists and schedules remain accurate and up to date. These actions reflect the regulator’s ongoing commitment to maintaining clarity and consistency within India’s cooperative and commercial banking ecosystem.