......However, it is not yet known whether the bank will have to face some regulatory issues as the closure of branches are located in non-metro areas. Typically the Reserve Bank of India (RBI) allows a foreign bank to open an urban branch once it opens a rural/semi-urban branch and vice versa. The source said all the factors would have been taken into account before the announcement, but conceded that the wishes of RBI, which has been persistent in taking banking to the hinterland, may have prompted the opening of branches in such places.......
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