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Corporate Laws Central Ministry of Finance Banking (Regulation) Act, 1949

Clarification regarding Shifting of Branches/Offices/Extension Counters within the same city, town or village by District Central Co-operative Banks (DCCBs) and Guidelines on Closure of Branches and Extension Counters by DCCBs

30-Oct-2023 | RBI/2023-2024/78 DoR.REG/LIC.No.54/19.51.052/2023-24

The Reserve Bank of India has issued a circular providing Clarification regarding Shifting of Branches/Offices/Extension Counters within the same city, town or village by District Central Co-operative Banks (DCCBs) and Guidelines on Closure of Branches and Extension Counters by District Central Co-operative Banks. (DCCBs)

With respect to Clarification regarding Shifting of Branches/Offices/Extension Counters within the same city, town or village by DCCBs A report in this regard shall be submitted by DCCBs in format, as per Annex ? 2 enclosed with this circular, to the concerned Regional Office of Reserve Bank and National Bank for Agriculture and Development (NABARD) within a month from the date of such shifting.

The DCCBs shall submit the branch licence in original to the concerned Regional Office of Reserve Bank for recording the change in the branch licence.

With respect to Guidelines on Closure of Branches and Extension Counters by DCCBs the Bank should report to the Regional Office concerned of Reserve Bank and NABARD, in Form VI prescribed under Rule 8 of Banking Regulations (Co-operative Societies) Rules, 1966 after closing the branches, within one month from the date of closure, along with copies of the relative Board resolution and RCS approval.

For detailed procedure and guidelines please refer the attachment.

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