https://www.taxtmi.com/news?id=2012 Banks must allocate at least 25 percent of branches proposed under their Annual Branch Expansion Plan to unbanked rural centres (Tier 5 and Tier 6), defined as rural centres lacking any brick-and-mortar branch of a scheduled commercial bank. General permission remains for opening branches in Tier 3-6 without prior approval, while Tier 1-2 openings require prior authorisation that will factor in this 25 percent allocation and banks' performance in financial inclusion and service. An incentive grants additional Tier 1 authorisation for each branch opened in underbanked districts of underbanked States, excluding those counted toward the 25 percent requirement. en-us Sun, 17 Jul 2011 21:54:27 +0530 Sun, 17 Jul 2011 21:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2012 Banks must allocate at least 25 percent of branches proposed under their Annual Branch Expansion Plan to unbanked rural centres (Tier 5 and Tier 6), defined as rural centres lacking any brick-and-mortar branch of a scheduled commercial bank. General permission remains for opening branches in Tier 3-6 without prior approval, while Tier 1-2 openings require prior authorisation that will factor in this 25 percent allocation and banks' performance in financial inclusion and service. An incentive grants additional Tier 1 authorisation for each branch opened in underbanked districts of underbanked States, excluding those counted toward the 25 percent requirement. News - Sun, 17 Jul 2011 21:54:27 +0530 https://www.taxtmi.com/news?id=2012