TODAY -
RBI to compensate banks for loss in NE service
Assam Tribune | Shillong, March 23
Having prioritised to provide banking service to the people of North East, the Reserve Bank of India has decided to compensate commercial banks for revenue loss in the process, RBI officials said today.
“RBI will compensate 100 per cent revenue loss to banks for five years as an incentive to push banking inclusion in the region,” Deputy General Manger RBI, T Jamang said here on the sideline of an annual payment conference of RBI here.
The parameters set by RBI was that each village or cluster of nearby villages with a population of 2,000 people should have a banking facility by March 2012, he said.
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* This Post is uploaded on March 24, 2012
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