Andhra Pradesh   

RBI extends date for business facilitator posts

  SANGAREDDY: As many banks in Medak district have failed to meet the deadline of establishing bank correspondent/ business facilitator position, the Reserve Bank of India has extended the deadline by another year.

According to sources in the banking sector, the RBI was forced to extend the deadline as many of the banks across the nation failed to complete the task by the given date.

The banks functioning in the district were directed to open more than 250 business correspondent/ business facilitator positions to make it convenient to the rural people to access banking activities. The villages having more than 2,000 population and were not covered by any bank were given as targets to establish the facility.

The first dead line imposed by the RBI was September 30, 2010, which was revised as March 31, 2011.

Even then banks failed to meet the target. Only 100 plus positions were filled in the Medak district by the end of May.

Hence the dead line was extended again to March 31, 2012.The banks which are entrusted with this task included State Bank of India, State Bank of Hyderabad, Andhra Pradesh Grameena Vikas Bank, Andhra Bank, UCO Bank and Indian Bank.

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