RBI to relax norms for bank license - Deepak Mohanty

UKHRUL, MAR 21: Reserve Bank of India (RBI) will be relaxing certain norms in licensing bank authorities to open their branches in North Eastern states. Deepak Mohanty, Executive Director of RBI, Mumbai, speaking to reporters on the sidelines of a day-long financial outreach (FO) camp held in Manipur's hill station Ukhrul district headquarters, 84 km north of Imphal on Monday, said, ”We’ll be relaxing certain norms”. In a move to expand its banking facilities in north eastern region, Reserve Bank of India (RBI) is opening a new office at Tripura’s capital within May next. Deepak Mohanty, Executive Director of RBI, Mumbai, speaking to reporters on the side light of a day-long financial outreach (FO) camp held in Manipur's hill station Ukhrul district headquarters, 84 km north of Imphal on Monday, said, “We’ll be opening our next office in Agartala”. RBI’s central board meeting will also be held in Agartala in May next, he added. Entire north eastern states have only RBI Guwahati office.  RBI is making all out effort to solve the unavailability of smaller denomination currency notes or coins in Manipur. “We have noted down the grievances,” Deepak Mohanty, Executive Director of RBI said.” We’re looking for an alternative arrangement as coins can be transported by air only.” Recalling the opening of an ATM booth for the first time in Ukhrul district recently, State Bank of India(SBI)’s Chief General Manager RK Garg who is the in charge of north eastern states said 3(three) more ATMs will be opened in Imphal soon. Presently SBI has around 12 ATM booths in Imphal area, Axis bank has 5, United Bank of India (UBI) has only one. “But we are planning to open two more within March end”, UBI’s Chairman and Managing Director Bhaskar Sen said. The two booths will be installed at Mao gate (Senapati district) and INA complex Moirang (Bishnupur district).With this Manipur will be having a total of around 7 ATM booths by the end of this year. Earlier, UBI chief also inaugurated its 1583rd branch at mini secretariat building of the hill town in presence of RBI’s Executive Director Deepak Mohanty, Regional Director Surekha Marandi,Manipur’s Principal secretary(works) Ramnganing Muivah, Deputy Commissioner N Ashokumar of the district, PK Roy, UBI’s General Manager(FIPS) and others.