Banks allowed to shift, merge close branches in urban areas: RBI
Q. As per the notification by Reserve Bank of India (RBI) on 6th Aug’15, in which areas the banks are allowed to shift, merge or close branches without seeking its prior permission?- Published on 27 Aug 15a. Urban Areas
b. Rural Areas
c. Semi-Rural Areas
d. Semi-Urban Areas
ANSWER: Urban Areas
In a notification on its website, RBI said banks can “shift, merge or close all branches except rural branches and sole semi-urban branches at their discretion”. Shifting, merging or closing a branch in a rural area or a sole branch in a semi-urban area would, however, continue to require prior permission from RBI.
