RBI to open office in Dehra Dun

The Reserve Bank of India (RBI) will open a regional office in Dehra Dun and provide additional services including foreign currency exchange facilities at all the 13 district headquarters.

This decision was taken at the recently concluded meeting of the Board of Directors of the RBI at the hill resort of Mussoorie during the weekend, officials said.

RBI Governor YV Reddy, who was present in the meting, also met Chief Minister ND Tiwari in a one-to-one meeting in this regard, they said.

Reddy made it clear that the new regional office in Dehra Dun would start functioning within two months time.

A committee headed by RBI Executive Director C B Das would formulate a detailed plan regarding restructuring of cooperative societies and other related issues. Reddy also agreed to issue licenses for foreign exchange to various banks in the state.

The services of post offices would also be utilised to improve banking services in rural areas of the state, Reddy said. The rural banks would also be strengthened, Reddy said.

Welcoming the RBI's move to open regional office in the capital, Tiwari expressed hope that it would give boost to the banking sector in the state.

Stating that Credit Deposit ratio was increasing in Uttaranchal, Tiwari also called for more coordination between banks and the government for implementing various projects.