Reserve Bank of India (RBI), on Tuesday, said it would allow well managed Urban Cooperative Banks (UCBs) to set up off-site ATMs without seeking its approval through the annual business plans, selectively.
The move is to help UCBs — Tier I and Tier II banks to set up off-site ATMs. Accordingly, Tier I banks having deposits below Rs 100 crore operating in a single district.
Tier II banks with deposits below Rs 100 crore operating in more than one district will be treated as Tier I provided the branches are in contiguous districts, while deposits and advances of branches in one district separately constitute at least 95 per cent of the total deposits and advances respectively.
Published 04 May 2010, 16:15 IST