The Chief Executives,
All DFIs.

Dear Sirs,

 

BRANCH OPENING POLICY FOR DFIs

 

Please refer to the Branch Licencing Policy for NBFIs issued vide BSD Circular Letter No. 23 of August 08, 2000.

2. To further streamline the policy of granting permission for opening/closing/shifting of branches of Development Financial Institutions (DFIs), the Branch Opening Policy has been revisited and modified which is enclosed for information and strict compliance. The new Branch Opening Policy will become effective immediately.

3. However, the DFIs desirous of opening branch(es) in the year 2005, are being allowed, as a special case, to submit their Annual Branch Expansion Plans within 30 days from the date of issue of this Circular.

4. This supersedes the instructions issued earlier vide BSD Circular Letter No. 23 of August 08, 2000.