According to a statement released to the press by United Bank of India, the bank has obtained licenses for opening 11 new branches in unbanked gram panchayats in the state of West Bengal. This is being done in the backdrop of the recommendations of the T M Bhasin Committee, appointed on behalf of West Bengal State Level Bankers’ Committee, which identified 938 unbanked gram panchayats in West Bengal.
The RBI is currently focussing on financial inclusion and has asked the lead banks to draw a plan, by March 2010, for opening banking outlets in villages with a population of more than 2,000 by March 2011. The RBI has also asked all commercial banks to get their respective board approval for the formulation of a three-year plan for financial inclusion by March 2010.
“We want each bank to draw up their own model, and are consulting the Indian banking association in this regard,” RBI Governor, Mr. Subbarao said. Union Finance Minister, Mr. Pranab Mukherjee, is also of the same opinion and during the opening ceremony of UBI’s branch at Mithipur in Murshidabad, had asked banks to increase credit flow to unbanked areas.
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