The Reserve Bank of India (RBI) announced on July 27, 2026, the exclusion of Coöperatieve Rabobank U.A. from the Second Schedule to the Reserve Bank of India Act, 1934. This move removes the bank from the list of entities whose notes are considered legal tender in India, impacting its operations within the country, according to rbi.org.in.
The decision follows regulatory review processes by the RBI, which maintains the Second Schedule to identify banks authorized to operate and issue currency notes in India. The exclusion means Coöperatieve Rabobank U.A. will no longer enjoy privileges accorded to scheduled banks under the Act. The RBI's press release did not specify reasons for the exclusion but formalized the change effective immediately.
This exclusion affects Coöperatieve Rabobank U.A.'s status in the Indian banking sector, limiting its ability to engage in certain financial activities reserved for scheduled banks. Scheduled banks benefit from access to RBI facilities and participation in clearinghouses, so removal from the schedule restricts these advantages. The RBI's Second Schedule is a key regulatory tool for supervising banking institutions operating in India.
The RBI's official press release dated July 27, 2026, confirms the exclusion, marking a regulatory update in the list of scheduled banks under the Reserve Bank of India Act, 1934. The document is accessible on the RBI website for reference.