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RBI-Clarifications on review of norms for opening of onsite/off-site ATMs by Urban Co-operative Banks
August, 22nd 2014

RBI/2014-15/185
UBD.CO.LS (PCB) Cir.No.8 /07.01.000/2014-15

August 20, 2014

Chief Executive Officers of all
Primary (Urban) Co-operative Banks

Madam / Dear Sir

Clarifications on review of norms for opening of onsite/off-site ATMs by Urban Co-operative Banks

Please refer to our circular UBD.CO.LS.(PCB).Cir.No.1/07.01.000/2014-15 dated July 2, 2014 permitting CBS-enabled Urban Co-operative Banks (UCBs) having a minimum assessed networth (ANW) of ` 50 crore satisfying the FSWM criteria and with an impeccable record of regulatory compliance to open on-site/off-site/mobile ATMs without the prior approval of RBI.

2. In view of the representations received from various state federations of UCBs, it is clarified that the existing instructions issued vide circular No.UBD.PCB.Cir.No.46/09.69.000/07-08 dated May 26, 2008 read with para 5.1 of the Master Circular dated July 1, 2014 will continue to be applicable for opening on-site ATMs under the automatic route and FSWM UCBs may set up on-site ATMs without the prior approval of Reserve Bank of India. Further, FSWM UCBs which are not eligible to open off-site ATMs as per revised criteria stated in para 1 above may seek prior approval of Reserve Bank as envisaged in ourcircular UBD.CO.LS.Cir.No.64/07.01.000/2009-10 dated May 4, 2010.

Yours faithfully,

(P. K. Arora)
General Manager

 
 
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