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RBI has allowed banks to shift, merge or close branches in urban areas

The Reserve Bank of India (RBI) has given the permission to banks to shift, merge or close all branches except rural branches and sole semi-urban branches at their own discretion.

RBI said that the banks should, however, ensure that customers of the branch, which is being shifted /merged/closed, are informed well in time before actual shifting/merger/closure of the branch, so as to avoid inconvenience to them.

Moreover the banks should also ensure at the time of shifting/merger/closure of branches that they continue to fulfil the role entrusted to these branches under the government sponsored programmes and DBT Schemes.

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