The Reserve Bank of India (RBI) on October 30, 2023, issued a Clarification regarding the Shifting of Branches/Offices/Extension Counters within the same city, town, or village by District Central Co-operative and Guidelines on Closure of Branches and Extension Counters
This has a reference to the guidelines for opening new places of business by District Central Co-operative Banks (DCCBs) – Section 23 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) were issued vide Circular DOR.REG. No.63/19.51.052/2022-23 dated August 11, 2022
This shall come into force on October 30, 2023
The following has been stated namely: -
• This circular shall be applicable to all District Central Co-operative Banks.
• It states that it has been decided to issue requisites clarifications regarding the Shifting of Branches/Offices/Extension Counters within the same city, town, or village by DCCBs and Guidelines on Closure of Branches and Extension Counters by DCCBs, have been enclosed as Annexure
[Notification No. RBI/2023-24/78 DoR.REG/LIC.No.54/19.51.052/2023-24]
