Norms for new bank branches soon: RBI

“RBI will issue guidelines for 25 per cent rural branches soon,” said a banker present at the central bank’s post-policy meeting.

In its annual monetary policy announcement on May 3, RBI had asked banks to open 25 per cent of their new branches in Tier-V and VI centres.

The central bank held the customary post-policy meet here with bankers wherein it apprised them of the changes announced in the annual policy for 2011-12.

Deputy Governors Shyamala Gopinath and Anand Sinha along with nine bankers, including Indian Overseas Bank Chairman and Managing M Narendra, were present at the meeting.

Issues relating to Basel II and III norms were also discussed at the meeting, bankers said.