Government and private banks order government to open 15,000 new branches in the country

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New Delhi, 16 January 2020 Thursday

The central government has ordered all banks to open 14,000-15,000 new branches in the country so that the bank's facilities in the villages are easily accessible to all. The matter

According to three sources, banks like SBI, BOB, HDFC and ICICI have been asked by the government to open a large number of branches in the coming year.

The finance ministry has told the banks that they should start the banks in a way that covers an area of ​​15 km in villages where no facilities are available.

The government will also tell you in which area and place to start a bank branch. The government wants banks like SBI to launch 1500 new branches, while private banks have been asked to start 600-700 branches. The list covers villages and panchayats where banks are not available.

As per the data till March 2019, there are 1.20 lakh branches of various banks in the country, while the number of ATMs is around two lakh. However, the number of branches in the village is only 35,649 out of 1.20 lakh.

According to RBI data, only 3 per cent more brunch was opened in 2019 compared to 2018 in rural areas. For banks, the branch opening in metro cities becomes profitable in two years, while in the rural areas, profits start to come after four years.

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