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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Eases Branch Authorisation Policy; Banks Can Install Off-Site ATMs Freely u/s 23, Banking Regulation Act.</h1> The Reserve Bank of India has issued a circular to all Scheduled Commercial Banks, including Regional Rural Banks, regarding relaxations in the Branch Authorisation Policy under Section 23 of the Banking Regulation Act, 1949. Banks are now permitted to install off-site ATMs at locations of their choice without requiring prior approval from the Reserve Bank, subject to certain conditions. Furthermore, banks can offer all products and services through ATM channels, provided the technology supports it and measures are in place to prevent fraud. This update aims to provide banks with greater operational freedom.
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