RBI asked banks to open 25 per cent of their outlets in rural areas
Mumbai: The Reserve Bank of India (RBI) on Thursday mandated that 25 per cent of the total number of 'banking outlets' opened during a financial year should be located in unbanked rural centres.
The RBI mandated this in its notification -- "Rationalisation of Branch Authorisation Policy- Revision of Guidelines" -- issued on Thursday.
"Domestic scheduled commercial banks (other than RRBs) are permitted to open, unless otherwise specifically restricted, banking outlets in tier 1 to tier 6 centres without having the need to take permission from RBI in each case," the central bank said in the notification.
"At least 25 per cent of the total number of 'Banking Outlets' opened during a financial year should be opened in unbanked rural centres."
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
The RBI mandated this in its notification -- "Rationalisation of Branch Authorisation Policy- Revision of Guidelines" -- issued on Thursday.
"Domestic scheduled commercial banks (other than RRBs) are permitted to open, unless otherwise specifically restricted, banking outlets in tier 1 to tier 6 centres without having the need to take permission from RBI in each case," the central bank said in the notification.
"At least 25 per cent of the total number of 'Banking Outlets' opened during a financial year should be opened in unbanked rural centres."
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
