[2] The current regiment was raised with an "all India class" composition at Babina on 1 January 1981 by Lieutenant Colonel (later Brigadier) Ranjit Talwar (formerly of 18 Cavalry).

After raising, the regiment moved to Piska Camp, Ranchi where it was converted in February 1942 into a training unit for VCOs and NCOs.

[6] While no specimen of a cap badge of the 42nd Cavalry is available today, two patterns are known to have been in use:[6] The regiment was equipped with the T-55 tanks with a 100 mm gun at the time of its raising.

The numerals are topped with a mailed right handed gauntlet and a scroll at the base with the Regimental Motto in Devanagari script.

[7] The motto of the regiment = कर्म, शौर्य और विजय (Karma, Shaurya aur Vijay) is derived from the annals of the Bhagavad Gita and translates to ‘Action, Courage and Victory’.