Regional Rural Banks (RRBs) need to open 1,700 branches this fiscal -RBI Report
The Regional Rural Banks (RRBs) in the country need to achieve a 10 per cent growth in branch expansion in 2012-13. This, in spite of RRBs failing to achieve their branch expansion targets in the last two financial years. There are total 82 Regional Rural Banks in the country.
As per the Government’s advice, RRBs were to open around 2,000 branches during 2010-11 and 2011-12, however, they fell short of the target. They opened 521 branches and 913 branches during 2010-11 and 2011-12, respectively.
The report said the Government has advised all sponsor banks of RRBs that 10 per cent of the existing RRB branch network will be the target for the year 2012-13. As on March 31, 2012, RRBs had a network of 16,914 branches.
“Accordingly, RRBs will be required to open 1,700 branches during the year 2012-13,” the report said.
Good News for Bank Job Aspirants
If 82 regional rural banks expands their network by 10percent this year, RRB will be required to hire more personnel to handle their business. It’s a good news for bank job aspirants who have cleared the Common Written Exams for Regional Rural Banks conducted by the IBPS and for those who wants to have career in banking sector.