RBI permits banks to open branches without its nod
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Within days of new RBI Governor Raghuram Rajan making comments to this effect, the central bank today allowed lenders to open branches, including in big cities, without its permission provided they fulfil certain conditions.
With the objective of further liberalising and rationalising the branch authorisation policy, the general permission to domestic scheduled commercial banks (other than RRBs) is now allowed to open branches in Tier 1 centres, the Reserve Bank said in a notification. (PTI)
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