Inclusion in the Second Schedule of the RBI Act marks a major milestone, strengthening the bank’s operational capacity, liquidity management, and public trust
Guwahati: The Assam Cooperative Apex Bank has marked a major institutional milestone with its inclusion in the Second Schedule of the Reserve Bank of India (RBI) Act, 1934, officially conferring upon it the status of a Scheduled Bank.
The RBI’s decision, taken under Section 42(6)(a) of the Act, signals growing regulatory confidence in the bank’s financial soundness, governance framework, and operational stability, while significantly strengthening the cooperative banking ecosystem in Assam.
With scheduled bank status, the Apex Bank gains access to a broader range of RBI facilities, including refinancing and liquidity support mechanisms. This enhanced regulatory access is expected to improve liquidity management, expand operational capacity, and further reinforce public trust in the cooperative banking system.
The recognition places the bank on a stronger footing to support farmers, small entrepreneurs, self-help groups, and other grassroots stakeholders who rely on cooperative institutions for timely and inclusive financial services.
Welcoming the RBI’s move, Assam Chief Minister Himanta Biswa Sarma described the development as a positive step for the state’s financial architecture. On a post on the social media platform, ‘X’, the Chief Minister congratulated the bank’s leadership and workforce. He wrote, “Congratulations to Shri Biswajit Phukan and the entire Apex Bank fraternity on this well deserved recognition.”
Overall, the RBI’s decision not only elevates the standing of the Assam Cooperative Apex Bank within the Indian banking system but also underscores Assam’s steady progress toward a more robust, inclusive, and credible financial ecosystem aligned with the state’s broader economic and developmental objectives.
