Friday, November 15, 2013

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

The Reserve Bank of India (RBI) has said that domestic scheduled commercial banks (other than RRBs) are permitted to open branches in Tier 1 to Tier 6 centres without having the need to take permission from Reserve Bank of India Detailed Guidelines in this regard including reporting requirements have been issued.

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