Norms of Bank Branches -Minimum 4 hours of service for 5 days a week be treated as a full service branch

Norms of Bank Branches -Minimum 4 hours of service for 5 days a week be treated as a full service branch

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

LOK SABHA

STARRED QUESTION NO: 59

ANSWERED ON: 18.11.2016

Norms of Bank Branches

K. MARAGATHAM

Will the Minister of
FINANCE be pleased to state:-

(a) whether Reserve Bank of India (RBI) proposes to relax bank branch norms, if so, the details thereof; 

(b) whether the Government proposes to allow the business correspondents to provide minimum 4 hours of service for 5 days a week be treated as a full service branch, if so, the details thereof;

(c) whether RBI has made it mandatory for the banks to put up ATMs commensurate with the number of branches they have in each town and city; and

(d) if so, the details thereof along with the steps taken by the Government in this regard?

ANSWER

THE FINANCE MINISTER

(a) Yes, Madam.

(b) A ‘banking outlet’ has been defined as “a fixed point service delivery unit, manned by either bank’s staff or its Business Correspondent where services of acceptance of deposits, encashment of cheques/cash withdrawal or lending of money are provided for a minimum of 4 hours per day for at least five days a week. It carries uniform signage with name of the bank and authorisation from it, contact details of the controlling authorities and complaint escalation mechanism. 

(c) and (d) All Scheduled Commercial Banks {excluding Regional Rural Banks (RRBs)} have been given general permission for installation of ATMs at branches and extension counters. 

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Source: http://164.100.47.190/loksabhaquestions/annex/10/AS59.pdf