CSB Bank announced that the regulatory restrictions imposed by Reserve Bank of India on opening of new branches, vide their letter
dated 30 January 2015 in view of the delayed Initial Public offering of shares of the Bank, have been lifted by RBI, with effect 10 January 2020.
Accordingly, the Bank can currently open branches under the general permission of Reserve Bank of India for all banks subject to the condition that the Bank should ensure that at least 25% of the total number of "Banking Outlets" opened during a financial year are opened in unbanked rural centres, which is applicable for all banks, as part of the general permission.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
