Corporation Bank opened nearly 30 per cent of its new branches in un-banked areas during 2013-14, according to S R Bansal, Chairman and Managing Director of the bank.
Answering to the queries of the shareholders at the 17th annual general meeting of the bank in Mangalore on Thursday, he said that the bank has 2,021 branches in the country. Of them, 314 branches were opened during 2013-14.
The RBI has asked banks to open 25 per cent of new branches in un-banked areas. The Corporation Bank opened nearly 30 per cent of its branches in un-banked areas during 2013-14. Of the 314 branches, 111 are situated in un-banked areas, he said.
The bank is planning to open another 500 branches during fiscal 2014-15. The total number of ATMs stood at 2,264 at the end of March 31 2014, Bansal added.