Section 23 of Banking Regulation Act, 1949- Relaxations in Branch Licensing Policy

Last updated: 30 March 2011

Notice Date : 29 March 2011

Section 23 of Banking Regulation Act, 1949- Relaxations in Branch Licensing Policy

RBI/2010-11/451

RPCD.CO.RRB.BC No. 56/ 03.05.90-A/2010-11

March 29, 2011

The Chairmen

All Regional Rural Banks

Dear Sir,

Section 23 of Banking Regulation Act, 1949- Relaxations in

Branch Licensing Policy

Please refer to our circular RPCD.CO.RRB.BC No. 28/ 03.05.90-A/2010-11 dated November 18, 2010 on the captioned subject.

2. In this connection, we further advise that the RRBs eligible to open branches in Tier 3 to Tier 6 centres may do so withoutprior approval of RBI and approach the Regional Office of RBI for, post-facto automatic, issue of the licence/s. The licence should be displayed in the premise of the branch so opened for information of its customers/ public to instill confidence in them that the bank branch is authorized to conduct banking business.

3. The details of the branches thus opened should be reported, in the format annexed, to the concerned Regional Office of RBI, the first such report being as on the quarter ended March, 2011.

Yours faithfully,

(B.P.Vijayendra)

Chief General Manager

Encl.: As above (01 sheet)

Annex

Name of the Regional Rural Bank:

Report of branches opened in Tier 3-6 Centres without prior approval of RBI

consequent to relaxations- Status as at the end of quarter _________ 2011.

Sl.No	Name of the Sponsor Bank	Details of branch opened Name of the District Block Village	Date of opening the branch	Reference and Date of application for licence to RBI	Date of issuance of licence by RBI
1	2	3	4	5	6