RBI to launch policy on new bank branches

The Reserve Bank will soon release guidelines for implementing its proposal to locate at least a quarter of the new bank branches in the unbanked areas, which generally fall in the rural areas.

“RBI will issue guidelines for 25 per cent rural branches soon,” said a banker present at the central bank’s post-policy meeting today.

In its annual monetary policy announcement on May 3, RBI had asked banks to open 25 per cent of their new branches in Tier-V and VI centres.

The central bank held the customary post-policy meet here with bankers wherein it apprised them of the changes announced in the annual policy for 2011-12.

Deputy Governors Shyamala Gopinath and Anand Sinha along with nine bankers, including Indian Overseas Bank Chairman and Managing M Narendra, were present at the meeting.

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