Banker to Banks

With a view to providing institutional mechanisms for promoting rural savings as well as for the provision of credit for viable economic activities in the local areas, it has been decided to allow the establishment of new local banks in the private sector. This is expected to bridge the gaps in credit availability and enhance the institutional credit framework in the rural and semi-urban areas. The following are the guidelines for establishment of the new local banks:

RPCD. SP. BC. 19 /09.01.01/2001-2002 The Chairman /Managing DirectorAll Indian Scheduled Commercial BanksDear Sir,Swarnjayanti Gram Swarozgar Yojana (SGSY)- Implementation -CLCC discussionsPlease refer to our circulars RPCD.NO.SP.BC.23/09.01.01/99-2000 dated 1 September 1999, SP.BC.58/09.01.01/99-2000 dated 2 February 2000 and SP.BC. 1/ 09.01.01 /2000-01 dated 3 July 2000 on the above subject. 2. The Central Level Coordination Committee (CLCC) meeting on SGSY held on

RPCD. SP. BC. 19 /09.01.01/2001-2002 The Chairman /Managing DirectorAll Indian Scheduled Commercial BanksDear Sir,Swarnjayanti Gram Swarozgar Yojana (SGSY)- Implementation -CLCC discussionsPlease refer to our circulars RPCD.NO.SP.BC.23/09.01.01/99-2000 dated 1 September 1999, SP.BC.58/09.01.01/99-2000 dated 2 February 2000 and SP.BC. 1/ 09.01.01 /2000-01 dated 3 July 2000 on the above subject. 2. The Central Level Coordination Committee (CLCC) meeting on SGSY held on