Search
New Branch Expansion Norms Released by RBI
May 25, 2017
To promote Indian banking services in the remote areas of the country RBI has issued branch expansion norms for the lenders. Save for the regional rural banks, all the domestic scheduled commercial banks are now allowed to open banking outlets or mini branches without interference from the regulators.
As per the new RBI guidelines, the banks must open at least 25% of their banking outlets in those rural areas that lack access to banking services.
The central bank defines a banking outlet as a fixed-point service system that’s managed by the bank employees or partner correspondents that offer services such as money lending, cash deposits, etc.
