To increase banking penetration and financial inclusion drive the Reserve Bank has asked banks to expand their branches in unbanked rural centres and draw up their next Financial Inclusion Plan (FIP) for the period 2013-16.
"To facilitate speedier branch expansion in unbanked rural centres for ensuring seamless roll out of the Direct Benefit Transfer/EBT Scheme of the government, banks are advised that they may consider front-loading (prioritising) the opening of branches in unbanked rural centres over a three-year cycle co-terminus with their FIP(2013-16)," RBI said in a statement today.
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