RBI Adds Four Co-operative Banks to Second Schedule Under RBI Act, 1934

The Reserve Bank of India (RBI) has issued a notification on May 8, 2026, for the inclusion of certain co-operative banks in the Second Schedule to the Reserve Bank of India Act, 1934.

The Reserve Bank of India has, under clause (a) of sub-section (6) of Section 42 of the Reserve Bank of India Act, 1934, decided to include the following banks in the Second Schedule of the Act. This means these banks are now legally recognised as scheduled banks:

The banks included are the following:

• Contai Co-operative Bank Ltd, Contai
• Prime Co-operative Bank Ltd., Surat
• Shri Veershaiv Co-operative Bank Ltd., Kolhapur
• The Varachha Co-operative Bank Ltd, Surat