Security concerns worry RBI

Jun 27, 2012 |

Hyderabad

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Bankers have expressed concern over closure of branches in agency areas on “grounds of security”.
Raising this issue at the SLBC meet on Tuesday, Andhra Bank CMD and SLBC president B.A. Prabhakar said the RBI had listed the centres in East Godavari like Maredumilli, Y. Ramavaram, Addatheegala, Devipatnam, Rayapalli and Gangavaram which were either closed or shifted to other places due to security concerns.

Mr Prabhakar said the Centre’s objective of financial inclusion, particularly serving the underprivileged, could be achieved by opening of these branches. Maintaining that 16 districts in the state were identified under the Left Wing Extremism coverage, he said the Union finance ministry had directed bankers to draw specific ac-tion plans for development of these districts. He said some of the initiatives include expanding banking activity by providing alternative channels and promoting women Self-Help Groups through NGOs.

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