NEWS & ADVICE : CREDIT CARDS
PSU banks to focus on Rural and unbanked areas : RBI
By Ankit Sharma
Jul 9, 2014
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According to reports the PSU banks are steadily increasing their presence in the rural areas. Following the guidelines of the apex bank to establish more number of branches in rural and unbanked areas, more than half of the new branches established by the banks are in rural and devoid areas.

About 50-60 of the new branches established by the top leading banks - ICICI bank, Axis Bank, HDFC Bank, YES bank are in the unbanked areas. In FY 2014, the AXIS bank established 455 branches out of which 298 were in unbanked areas.

In order to increase the prosperity in the rural economy the Reserve Bank has asked the PSU banks set up at least 25% of their branches in unbanked areas. ICICI bank came up with a new measure of branch on wheels for the rural areas, SBI opened 57% of its branches in the rural areas.


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