A panchayat sans ATMs in 100% banking district

.....Under the prevailing banking norms stipulated by the RBI, service cooperative banks are among the several entities which are not eligible to be called a bank, despite doing business in the financial sector. Though the RBI had brought the issue to the notice of the authorities in the State, the opposition by the cooperative sector had forced the apex bank to withhold the move in the State, according to sources in the banking industry. Such banks could face the axe of the apex bank, as and when the existing waiver on nomenclature is reversed........

Read - The Hindu