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New PSU bank branches on decline

Published: Apr 12, 2017

By TIOLCORP News Service

NEW DELHI, APR 12, 2017: MR Santosh Kumar Gangwar, Minister of State in the Ministry of Finance, in written reply to a question in Rajya Sabha yesterday, informed about the number of branches being opened by Public Sector banks. Number of branches opened by Public Sector Banks in rural, semi-urban, urban and metropolitan centres for financial year 2013-14, 2014-15, 2015-16 and 2016-17 (up to 31.12.2016) are as under:

Population Group

2016-17 (till 31.12. 2016)

2015-16

2014-15

2013-14

Rural

435

1,067

1,992

3,076

Semi-Urban

366

946

1,683

2,418

Urban

323

617

1,064

1,247

Metropolitan

325

666

924

1,101

All India

1,449

3,296

5,663

7,842

In order to promote financial inclusion and to extend the banking network in unbanked areas, general permission has been granted by Reserve Bank of India (RBI) to domestic Scheduled Commercial Banks including Public Sector Banks (excluding Regional Rural Banks) to open branches at any place in the country, without seeking prior approval of RBI in each case, subject to at least 25 percent of the total number of branches opened during a financial year being opened in unbanked rural (Tier 5 and Tier 6) centres (population up to 9,999). RBI has also specified that the total number of branches opened in Tier 1 centres (population 1,00,000 and above) during the financial year cannot exceed the total number of branches opened in Tier 2 to Tier 6 centres (population up to 99,999) and all centres in the North Eastern States and Sikkim.

State Bank of India (SBI) has informed that 20 representations were received for opening the branches under Saansad Adarsh Gram Yojana, and survey has been conducted for all 20 branches. However, SBI has not indicated any time by which new branches are likely to be opened.

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