Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&amp;rdquo; added the official. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches help banks generate such loans.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;
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India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. 


They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches...&#039;,
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&amp;rdquo; added the official. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches help banks generate such loans.&lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;
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India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. 


They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches...&#039;
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                <strong>Private banks gear up to take on public banks in rural India by Anita Bhoir</strong></h1>
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                <p align="justify"><font >India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. </font></p><p align="justify"><font >They don&rsquo;t need to seek the Reserve Bank of India&rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. </font></p><p align="justify"><font >The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. </font></p><p align="justify"><font >However, foreign banks do not enjoy the same relaxation in branch opening guidelines.</font></p><p align="justify"><font >Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.</font></p><p align="justify"><font >About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.</font></p><p align="justify"><font >&ldquo;The branch banking team is identifying locations,&rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. </font></p><p align="justify"><font >&ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&rdquo; added the official. </font></p><p align="justify"><font >Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. </font></p><p align="justify"><font >Rural branches help banks generate such loans.</font></p><p align="justify"><font >Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.</font></p><p align="justify"><font >According to RBI data, at least four banks&mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&mdash;did not meet the 40% target in 2009.</font></p><p align="justify"><font >HDFC Bank, India&rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.</font></p><p align="justify"><font >Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&rsquo; fee income.</font></p><p align="justify"><font ></font></p>               </font>
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&amp;rdquo; added the official. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches help banks generate such loans.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;
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India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. 


They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&amp;rdquo; added the official. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rural branches help banks generate such loans.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&amp;rsquo; fee income.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&lt;/font&gt;&lt;/p&gt;&#039;,
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches help banks generate such loans.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&amp;rsquo; fee income.&lt;/font&gt;
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India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. 


They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches...&#039;
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India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. 


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                <strong>Private banks gear up to take on public banks in rural India by Anita Bhoir</strong></h1>
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                <p align="justify"><font >India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. </font></p><p align="justify"><font >They don&rsquo;t need to seek the Reserve Bank of India&rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. </font></p><p align="justify"><font >The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. </font></p><p align="justify"><font >However, foreign banks do not enjoy the same relaxation in branch opening guidelines.</font></p><p align="justify"><font >Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.</font></p><p align="justify"><font >About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.</font></p><p align="justify"><font >&ldquo;The branch banking team is identifying locations,&rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. </font></p><p align="justify"><font >&ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&rdquo; added the official. </font></p><p align="justify"><font >Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. </font></p><p align="justify"><font >Rural branches help banks generate such loans.</font></p><p align="justify"><font >Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.</font></p><p align="justify"><font >According to RBI data, at least four banks&mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&mdash;did not meet the 40% target in 2009.</font></p><p align="justify"><font >HDFC Bank, India&rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.</font></p><p align="justify"><font >Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&rsquo; fee income.</font></p><p align="justify"><font ></font></p>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ebe1070ba9a-trace').style.display = (document.getElementById('cakeErr67ebe1070ba9a-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67ebe1070ba9a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ebe1070ba9a-code').style.display = (document.getElementById('cakeErr67ebe1070ba9a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67ebe1070ba9a-context').style.display = (document.getElementById('cakeErr67ebe1070ba9a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67ebe1070ba9a-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&amp;rdquo; added the official. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches help banks generate such loans.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&amp;rsquo; fee income.&lt;/font&gt;
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India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. 


They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&amp;ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&amp;rdquo; added the official. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. &lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Rural branches help banks generate such loans.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&amp;rsquo; fee income.&lt;/font&gt;&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&lt;font &gt;&lt;/font&gt;&lt;/p&gt;&#039;,
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. &lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. &lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;However, foreign banks do not enjoy the same relaxation in branch opening guidelines.&lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.&lt;/font&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.&lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;The branch banking team is identifying locations,&amp;rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;&amp;ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&amp;rdquo; added the official. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. &lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Rural branches help banks generate such loans.&lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &amp;mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.&lt;/font&gt;
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;According to RBI data, at least four banks&amp;mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&amp;mdash;did not meet the 40% target in 2009.&lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;HDFC Bank, India&amp;rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.&lt;/font&gt;
&lt;/p&gt;
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&lt;font face=&quot;arial,helvetica,sans-serif&quot; size=&quot;3&quot;&gt;Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&amp;rsquo; fee income.&lt;/font&gt;
&lt;/p&gt;
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India&amp;rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&amp;mdash;rural India&amp;mdash;by opening hundreds of new branches. 


They don&amp;rsquo;t need to seek the Reserve Bank of India&amp;rsquo;s (RBI) nod any more to open branches...&#039;
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India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. 


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                <strong>Private banks gear up to take on public banks in rural India by Anita Bhoir</strong></h1>
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                <p align="justify"><font >India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. </font></p><p align="justify"><font >They don&rsquo;t need to seek the Reserve Bank of India&rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. </font></p><p align="justify"><font >The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. </font></p><p align="justify"><font >However, foreign banks do not enjoy the same relaxation in branch opening guidelines.</font></p><p align="justify"><font >Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.</font></p><p align="justify"><font >About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.</font></p><p align="justify"><font >&ldquo;The branch banking team is identifying locations,&rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. </font></p><p align="justify"><font >&ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&rdquo; added the official. </font></p><p align="justify"><font >Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. </font></p><p align="justify"><font >Rural branches help banks generate such loans.</font></p><p align="justify"><font >Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.</font></p><p align="justify"><font >According to RBI data, at least four banks&mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&mdash;did not meet the 40% target in 2009.</font></p><p align="justify"><font >HDFC Bank, India&rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.</font></p><p align="justify"><font >Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&rsquo; fee income.</font></p><p align="justify"><font ></font></p>               </font>
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<font face="arial,helvetica,sans-serif" size="3">India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. </font>
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<font face="arial,helvetica,sans-serif" size="3">They don&rsquo;t need to seek the Reserve Bank of India&rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. </font>
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<font face="arial,helvetica,sans-serif" size="3">&ldquo;The branch banking team is identifying locations,&rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. </font>
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<font face="arial,helvetica,sans-serif" size="3">&ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&rdquo; added the official. </font>
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<font face="arial,helvetica,sans-serif" size="3">Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. </font>
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<font face="arial,helvetica,sans-serif" size="3">Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.</font>
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<font face="arial,helvetica,sans-serif" size="3">According to RBI data, at least four banks&mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&mdash;did not meet the 40% target in 2009.</font>
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India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. 


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<font face="arial,helvetica,sans-serif" size="3">India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">They don&rsquo;t need to seek the Reserve Bank of India&rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">However, foreign banks do not enjoy the same relaxation in branch opening guidelines.</font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.</font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.</font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">&ldquo;The branch banking team is identifying locations,&rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">&ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&rdquo; added the official. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. </font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Rural branches help banks generate such loans.</font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.</font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">According to RBI data, at least four banks&mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&mdash;did not meet the 40% target in 2009.</font>
</p>
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<font face="arial,helvetica,sans-serif" size="3">HDFC Bank, India&rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.</font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3">Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&rsquo; fee income.</font>
</p>
<p align="justify">
<font face="arial,helvetica,sans-serif" size="3"></font>
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India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. 


They don&rsquo;t need to seek the Reserve Bank of India&rsquo;s (RBI) nod any more to open branches...'
$disp = '<p align="justify"><font >India&rsquo;s private sector banks are busy drawing up plans to attack public sector banks in their backyard&mdash;rural India&mdash;by opening hundreds of new branches. </font></p><p align="justify"><font >They don&rsquo;t need to seek the Reserve Bank of India&rsquo;s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. </font></p><p align="justify"><font >The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. </font></p><p align="justify"><font >However, foreign banks do not enjoy the same relaxation in branch opening guidelines.</font></p><p align="justify"><font >Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets.</font></p><p align="justify"><font >About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres.</font></p><p align="justify"><font >&ldquo;The branch banking team is identifying locations,&rdquo; said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. </font></p><p align="justify"><font >&ldquo;These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,&rdquo; added the official. </font></p><p align="justify"><font >Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. </font></p><p align="justify"><font >Rural branches help banks generate such loans.</font></p><p align="justify"><font >Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets &mdash;18% of loans to be given to the agriculture sector and 10% to weaker sections.</font></p><p align="justify"><font >According to RBI data, at least four banks&mdash;Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd&mdash;did not meet the 40% target in 2009.</font></p><p align="justify"><font >HDFC Bank, India&rsquo;s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches.</font></p><p align="justify"><font >Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks&rsquo; fee income.</font></p><p align="justify"><font ></font></p>'
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Private banks gear up to take on public banks in rural India by Anita Bhoir

India’s private sector banks are busy drawing up plans to attack public sector banks in their backyard—rural India—by opening hundreds of new branches. They don’t need to seek the Reserve Bank of India’s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. The Indian central bank has also permitted private and public sector banks to open branches in rural, semi-urban and urban centres in north eastern states and Sikkim without its approval. However, foreign banks do not enjoy the same relaxation in branch opening guidelines. Rural branches are critical for any Indian bank as they generate cheap money. Typically, consumers in rural India keep bulk of their money in savings account that offers only 3.5% interest and this money is deployed in urban centres to create loan assets. About 40% of 79,933 bank branches in the country, 31,666, are located in rural India. Another 19,057 branches are in semi-urban centres. “The branch banking team is identifying locations,” said a senior HDFC Bank Ltd official who did not want to be identified as he is not authorized to speak to the media. “These branches will help us meet the priority sector requirements, conduct commodity and agriculture finance related business and also garner low-cost deposits,” added the official. Under RBI norms, 40% of loans are mandated, given to the so-called priority sector or agriculture, small scale industries, etc. Rural branches help banks generate such loans. Majority of private sector banks have been able to meet the overall priority sector target of 40% but HDFC Bank, ICICI Bank Ltd, Axis Bank Ltd, City Union Bank Ltd, Development Credit Bank Ltd, Federal Bank Ltd, Yes Bank Ltd and Kotak Mahindra Bank Ltd have failed to meet the sub-targets —18% of loans to be given to the agriculture sector and 10% to weaker sections. According to RBI data, at least four banks—Bank of Rajasthan Ltd, Development Credit BankLtd, Karur Vysya Bank Ltd and South Indian Bank Ltd—did not meet the 40% target in 2009. HDFC Bank, India’s second largest private sector bank by assets, has 1,725 branches. ICICI Bank, the largest private sector bank, has 1,500 branches and has licences to set up another 580. Axis Bank has 941 branches. Apart from low-cost deposits, these branches are also selling points for other financial products such as insurance and mutual funds and can add to banks’ fee income.