NEWS & ADVICE : CREDIT CARDS
Branches of Indian banks to open in rural areas
By Ankit Sharma
Sep 17, 2013
Print    Email    RSS   

It is expected that RBI will allow Indian Banks to branch out as well as financial companies who have a non banking background (NBFC's) but have a strong presence in rural areas and semi urban areas and who are in the list of getting the banking license from the RBI.

As stated by the Kotak Mahindra's President- Consumer Banking, K. V. S. Manian that they have increased their target of opening branches from 25 - 35 percent to 30 to 40 percent. The procedure to obtain the license is transparent and hassle free. Indian banks are going to be encouraged by the Government and RBI to open new branches.

As per the governor of the RBI Raghuram Rajan who stated that the central bank will soon give an open door for banks to set up their branches wherever they want especially in the rural areas.

The fact of the matter is, banks are a bit skeptical to open branches in rural areas due to the expenses incurred by them towards the cost of operating.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Multi-currency card- A hassle-free...
5 steps to avoid credit card debt and...
Understand Your Credit Card Statement
Students Credit Cards in India
Carnival of Indian Personal Finance Blogs #4


Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive