In a bid to complete Financial Inclusion in the State, all the district magistrates had been directed to submit the list of new bank branches and business correspondents (BC) of their respective districts in one week. They had also been asked to take initiatives to increase Credit Deposit Ratio.Chief Secretary Alok Kumar Jain issued these instructions to district magistrates in a video conferencing at Secretariat on Tuesday. Recently RBI Governor D Subbarao had agreed to relax the set standard of 1,000 population for opening of bank branches. There ought to be a bank branch in every 5 km distance and a BC in every 2 km distance. He directed the DMs to identify the location and submit the list to him in one week and to ensure connectivity while choosing the location............
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