Installation of Automatic Teller Machines -UCBs - ಆರ್ಬಿಐ - Reserve Bank of India
Installation of Automatic Teller Machines -UCBs
RBI/2007-2008/332 May 26, 2008 The Chief Executive Officers of Dear Sir/Madam, Annual Policy Statement for the year 2008-09 Please refer to our circular UBD.PCB.BPD.Cir.No. 50/09.69.000/05-06 dated April 28, 2006 on the above subject. 2. As announced in the Annual Policy Statement for the year 2008-09 dated April 29, 2008 (extract enclosed), the eligibility norms for opening up of on-site ATMs have been liberalized. Accordingly, UCBs that are registered in states which have entered into MoU with RBI or are registered under the Multi-state Cooperative Societies Act, 2002 and classified in Grades other than Grade III and IV, may hereafter, set up on-site ATMs without prior approval of the Reserve Bank. Yours faithfully, (A.K Khound) Annual Policy Statement for the Year 2008-09 Opening of On-site ATM By UCBs 210. At present, UCBs are allowed to open on-site ATMs subject to certain eligibility norms, including minimum deposit criterion of Rs.100 crore. With a view to liberalising this facility, it is proposed:
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