November 02, 2012
All Regional Rural Banks
Master Circular on Branch Licensing – Regional Rural Banks - Amendment
Please refer to our Master Circular RPCD.CO.RRB.BL.BC.05/03.05.90/2012-13 dated July 2, 2012 on the captioned subject. In partial modification, para 2.5 of the above circular may be amended to read as:
“2.5 Requirement for Conduct of Government Business
RRBs are permitted to undertake State Government business as sub-agents of the Sponsor Bank with the prior approval from the concerned State Government and RBI. The Sponsor Bank should submit the proposal to the concerned Regional Office of RBI in accordance with DGBA guidelines issued vide circular DGBA.GAD.No.H.15327/31.01.004/2006-07 dated April 19, 2007, for issue of necessary authorisation.”
2. All other contents of the circular remain unchanged.
3. Please acknowledge receipt to our concerned Regional Office.
(C. D. Srinivasan)
Chief General Manager