RBI to establish satellite banks, ATMs in Jharkhand

During an interactive session with the senior officials of the state government and bankers in the state capital on Tuesday, Reserve Bank of India (RBI) Governor D Subbarao said that RBI was considering the proposal of satellite banks and ATMs to provide banking facilities to the villagers in Jharkhand.

The governor said that the satellite banks would initially function on a weekly basis and it would be converted into full-fledged branches, if worked smoothly.

The state government officials informed the RBI governor that of the 4,423 panchayats in the state, 1,540 panchayats had no banking facilities.

Jharkhand chief minister Arjun Munda suggested that if establishment of branches of the bank was not commercially viable immediately, RBI might consider to set- up satellite banks and ATMs or involving business agents to ensure smooth banking services for villagers.

 

RBI governor has agreed to provide banks in every panchayat of Jharkhand by March 2012 and asked the convener of the State Level Bankers’ Conference, Allahabad Bank to prepare a plan in this regard within a month.