BANKS NEED 12 LAC BUSINESS CORRESPONDENTS FOR RURAL AREA

As per the report appearing in Business Standard, Mr. Krishna Mohan, Regional Director, Reserve Bank of India, has said that the Indian Banking Sector needs at least 12 lac business correspondents to work in rural areas to bring six lac villages of the country into banking area. He said that existing 76000 branches of Scheduled Banks are catering only to 6% of the total villages in the country and only nine branches are available for one lac population.
Reserve Bank of India has recently relaxed norms for appointment of business correspondents, who act as an intermediary for banks and perform functions of a bank in an area where the bank does not have a presence.
Source: http://www.business-standard.com/india/news/banks-need-12-lakh-biz-correspondents-for-rural-area/78450/on