Wednesday, June 5, 2013

RBI and India’s Villages

The RBI had more than 400 questions seeking clarifications on new banking licence guidelines. But there is even more brewing in the minds of consultants, lawyers and entrepreneurs. Someone wanted to know if the RBI would display the names of villages with population of less than 9,999. RBI replied saying it “can be obtained from the concerned State Level Bankers Committees and District Consultative Committees at the time of opening branches”. It can be done, but will it be based on the latest census or the current population? As in most cases, reality and statistics do not agree.

ET 

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