The Chief Executives,
All Banks
Dear
Sirs/Madam,
RENEWAL FEE FOR BANKING/BRANCH(ES)
LICENCES ISSUED UNDER SECTIONS 27 & 28 OF
BANKING COMPANIES ORDINANCE, 1962
Please
refer to BPD Circular No. 31 dated the 5th October, 2004
on the captioned subject.
Para
4 of the aforesaid circular has been amended as under:-
“Every
bank which has a branch network of more than 100 branches
shall open at least 20% of the branches, planned to be opened
under its annual branch expansion plan, in unbanked areas.
The banks are advised to keep this in view while submitting
their annual branch expansion plan for the year 2005 and
onwards. In other words the condition of opening 20% branches
in unbanked areas shall not be applicable in case of bank
having 100 or less branches.”