From 1990 to 1997 the RBI branch authorisation policies specified that banks could establish a new bank branch in a location with one or more bank branches only if they set up four branches in a location with no new bank branches This regulatory prescription ensured that banks opened rural branches in states where financial development was lower to address the regional inequities in development.
*  *  *  Introduction I welcome the opportunity to speak at the 48th ICMA conference.