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RBI allows UCBs to shift branches to other cities

Reserve Bank of India has decided on 28th August 2007, to consider requests from Urban Co-operative Banks (other than Unit banks) to shift their branches from one city to another in their area of operation within the same State subject to the following conditions:

i) The new centre is of the same or lower population group as the existing centre e.g. a branch at a 'D' centre can be shifted to another 'D' centre only; and

ii) A branch located in underbanked district can be shifted to another centre in underbanked district only.

iii) The shifting should be beneficial to the bank in terms of cost and business.

UCB's will be required to submit their applications in this regard to the Regional Office of Urban Banks Department, RBI in whose jurisdiction the Head Office of the bank is situated.

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