1003 Bank Branches Opened in Rural Areas in 2011-11

In Order to extend the reach of banking to the rural hinterland, to begin with, Banks were advised in 2010-11 to provide appropriate banking facilities to habitations having a population in excess of 2000 (as per 2001 census) by March, 2012, using the Business Correspondent (BC) and other models, with appropriate technology back up. Approximately 73,000 such habitations across the country have been identified and allocated to Public Sector Banks, Regional Rural Banks, Private Sector Banks, Cooperative Banks for extending banking services by March, 2012. As per reports received from Banks 29,569 villages have been covered as on 31.3.2011.

As reported by Reserve Bank of India, 1003 branches were opened in Rural areas by Scheduled Commercial Banks during 2010-11 (Rural areas includes centers with population less than 10,000).

Government conducts periodical meetings with banks to assess the progress made. This information was given by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a Question in Rajya Sabha today.