The taxonomic status of O. colletii has been a puzzle. It was first described in 1881 by Franz Steindachner as Heptapterus collettii and marked as neotropical in origin. With examination, though, it was determined to more closely match members of Olyra. It may even be a junior synonym of Olyra longicaudata.
O. kempi is treated in some literature as a synonym of O. longicaudata.
There are currently 7 recognized species in this genus:
- Olyra astrifera Arunachalam, Raja, Mayden & Chandran, 2013 
- Olyra burmanica Day, 1872 (Longtail catfish)
- Olyra collettii Steindachner, 1881
- Olyra horae Prashad & Mukerji, 1929
- Olyra kempi Chaudhuri, 1912
- Olyra longicaudata McClelland, 1842
- Olyra saginata H. H. Ng, Lalramliana & Lalthanzara, 2014 
- Bockmann, F.A. & de Pinna, M.C.C. (2004). "Heptapterus collettii Steindachner, 1881: A Member of the Asian Bagrid Genus Olyra Erroneously Assigned to the Neotropical Fauna (Siluriformes: Ostariophysi)". Copeia, 2004 (3): 665–675.
- Linder, R.S. (2000). "The Catfishes of Asia Family Bagridae part two" (PDF). Cat Chat, 1 (2).
- Froese, Rainer, and Daniel Pauly, eds. (2015). "Olyridae" in FishBase. April 2015 version.
- Ferraris, C.J.Jr. (2007). "Checklist of catfishes, recent and fossil (Osteichthyes: Siluriformes), and catalogue of siluriform primary types" (PDF). Zootaxa, 1418: 1–628.
- Arunachalam, M., Raja, M., Mayden, R.L. & Chandran, A. (2013): Olyra astrifera a new species of olyrid catfish from the Western Ghats, Southern India (Teleosti: Bagridae: Olyrininae) and the designation of neotype, Olyra longicaudata McClelland, 1842 from North-Eastern India. International Journal of Zoology and Research, 3 (2): 51-60.
- Ng, H.H., Lalramliana & Lalthanzara, H. (2014): Olyra saginata, a new species of bagrid catfish (Actinopterygii: Siluriformes) from northeastern India. Zootaxa, 3821 (2): 265–272.
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