Section 23 of the Banking Regulation Act, 1949- Relaxations in Branch Licensing Policy - ଆରବିଆଇ - Reserve Bank of India
Section 23 of the Banking Regulation Act, 1949- Relaxations in Branch Licensing Policy
RBI/2010-11/283 November 18, 2010 The Chairmen Dear Sir, Section 23 of the Banking Regulation Act, 1949- Relaxations in A reference is invited to paragraph 80 of the Second Quarter Review of Monetary Policy for the Year 2010-11 (extract enclosed – Annex I) regarding the proposal to liberalise the extant Branch Licensing for Regional Rural Banks. 2. Accordingly, Reserve Bank of India hereby permits Regional Rural Banks to open branches in Tier 3 to Tier 6 centres (with population up to 49,999 as per Census 2001 – details of classification of centres tier-wise furnished in Annex II) without having the need to take permission from Reserve Bank of India in each case, subject to reporting, provided they fulfil the following conditions as per the latest inspection report:- i) CRAR of at least 9%; 3. Other RRBs will have to continue to approach RBI/ NABARD as hitherto. As RRBs have to be fully CBS compliant by September 30, 2011, after that date, the liberalisation will be available only to such RRBs. 4. All other instructions contained in our Master circular RPCD.CO.RRB.BC No. 8/ 03.05.90-A/2010-11 dated July 1, 2010, on Branch Licensing, remain unchanged. Yours faithfully, (B.P.Vijayendra) Encls.: As above (02 sheets) Extract of Second Quarter Review of Monetary Policy 2010-11 Liberalisation in Branch Licensing of Regional Rural Banks 80. As part of further liberalisation of the extant branch licensing policy in respect of regional rural banks (RRBs), it is proposed:
Details of tier-wise classification of centres based on population
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