<p>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. <br />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.<br />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.</p>
<p>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. <br />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.<br />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.</p>
