The Reserve Bank of India (RBI) has linked banks' branch expansion plans to their overall mid-term corporate strategy. | |
| According to a ciruclar issued by the central bank, the move is aimed at emphasising the developmental needs of unbanked regions and potential for growth available across the country. |
| |
| For this purpose, the RBI has identified 391 under-banked districts for enabling banks to formulate their plan. The banks have been asked to formulate a detailed mid-term corporate plan for branch expansion for a three-year period with the approval of their respective boards. |
| |
| The plan should cover all categories of branches/ offices having customer contact, including specialised branches, extension counters and ATMs. |
| |
| It should have details of number of branches proposed to be opened in metropolitan/ urban/ semi-urban/ rural areas in each districts. |
| |
| For the current year, the plan should include upgradation of extension counters to full fledged branches and conversion of specialised branches into regular branches. |
| |
| The proposal for branch expansion should be submitted on an annual basis by December every year. |
| |
|
| |
