Inaugurating a branch of a Cooperative Bank in Kurnool in AP, regional director of RBI R.N. Dash said cooperative banks need to develop to be on a par with commercial banks, reports Hindu.
The RBI official said the central govt and the RBI were working together to deepen financial inclusion and cooperative banks could play an important role in it.
The new branch of Visakhapatnam Cooperative Bank is the 43rd branch of the 101-year-old bank in Kurnool.