RBI to soon release guidelines on new bank branches

The Reserve Bank will soon release guidelines for implementing its proposal to locate at least a quarter of the new bank branches in the unbanked areas, which generally fall in the rural areas.

"RBI will issue guidelines for 25% rural branches soon," said a banker present at the central bank's post-policy meeting today.

In its annual monetary policy announcement on May 3, RBI had asked banks to open 25% of their new branches in Tier-V and VI centres.

The central bank held the customary post-policy meet here with bankers wherein it apprised them of the changes announced in the annual policy for FY12.

Deputy Governors Shyamala Gopinath and Anand Sinha along with nine bankers, including Indian Overseas Bank Chairman and Managing M Narendra, were present at the meeting.

Issues relating to Basel II and III norms were also discussed at the meeting, bankers said.