Tuesday, July 8, 2014

On RBI push, private banks widen reach in rural areas

............RBI has asked banks to prioritise opening of branches in unbanked rural centres (Tier-V and VI) over a three-year cycle of 2013-16. It has asked them to allocate at least 25% of the total number of new branches to these areas. Also, the central bank will give credit for the branches opened in excess of the 25% for a year, which would be carried forward for achieving the criteria in the next year....

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