GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rural Areas
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Urban Areas
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Semi-Rural Areas
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Semi-Urban Areas
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Detailed explanation-1: -Banks have been given freedom to shift a branch to any location within the centre (city/town/village) without seeking prior approval from RBI. 1. As a matter of policy, shifting of sole rural branch outside the centre/village is not permitted, as such shifting would render the centre unbanked.
Detailed explanation-2: -5.1 Banks having general permission may shift, merge or close all ‘Banking Outlets’ (except rural outlets and sole semi-urban outlets) at their discretion. 5.2 Merger, Closure and shifting of any rural ‘Banking Outlet’ as well as a sole semi urban ‘Banking Outlet’ would require approval of the DCC/DLRC.
Detailed explanation-3: -In terms of extant instructions, a DSCB is required to open 25 per cent of its branches in unbanked rural centres (URCs).