May 29, 2013 8:39 AM

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FIP 2013-'16: RBI asks banks to give preference to expansion in unbanked rural centres

The Reserve Bank of India, RBI has asked banks to give more preference to expansion activities in unbanked rural centres while drawing up their next Financial Inclusion Plan for the period 2013-16. In a notification issued today, RBI advised banks to prioritize opening of branches in unbanked rural centres over the next three-year cycle so as to facilitate seamless roll out of the Direct Benefit Transfer Scheme of the government. The statement further said that RBI will give credit for branches opened in unbanked rural centres in excess of the required 25 per cent of the Annual Branch Expansion Plan.

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