Q. Q68) Reserve Bank of India (RBI) on 6 August 2015 notified Section 23 of the Banking Regulation Act, 1949 -Relaxations in Branch Authorisation Policy. Some guidelines that should be followed for Merger/Closure/ Shifting of branches includes:
1) Banks may shift, merge or close any branch in urban or semi-urban areas at their discretion
2) Banks should, however, ensure that customers of the branch, which is being shifted/merged/closed, are informed well in time before actual shifting/merger/closure of the branch, so as to avoid inconvenience to them
3) It may further be ensured that branches are shifted within the same or to a larger population category, i.e. semi urban branches to semi urban or rural centres and rural branches to other rural centres.
4) Thus banks may shift their metropolitan, urban and semi urban branches outside the State, and their rural branches outside the block without prior approval of RBI
Which of the statements given above is/are incorrect?