Government Adopts Multi-Pronged Strategy to Extend Banking Facilities to Unserved Areas

Last updated: 14 March 2012

The Government has adopted a multi-pronged strategy to extend banking facilities to hitherto unserved areas. Reserve Bank of India (RBI) in their Branch Authorization Policy for opening of Branches in unbanked rural centres, has advised all Scheduled Commercial Banks (SCBs) that while preparing their Annual Branch Expansion Plan, they should allocate at least 25 per cent of the total number of branches proposed to be opened during a year in unbanked Rural (Tier 5 and Tier 6) centres. Furthe
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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