RBI has granted approval to HP State Co-operative Bank (HPSCB) to open up twenty seven new branches, raising the number of branches to 256, reports Statesman.
Earlier in 2014, HPSCB had opened 20 new branches and 7 new extension counters, out of which four were granted the status of a branch.
A source said the bank has also received permission from the RBI to have its own currency chest.
The bank was ranked first for overall performance in 2015-2016 and its initiative of adopting Information Technology (IT) for error less and fast functioning has been widely appreciated.