RBI to open office in Arunachal Pradesh

The Reserve Bank of India (RBI) will open an office in the north-eastern state of Arunachal Pradesh.

Surekha Marandi, Executive Director (ED) of Reserve Bank of India, on Friday called on Chief Minister Pema Khandu at Itanagar.

Marandi heads the consumer education and protection department, financial inclusion and development department.


Marandi informed the Chief Minister that the RBI has resolved to open an office in Arunachal Pradesh, preferably in the state capital soon.

She said RBI is working on the modalities for opening its office and within three to six months, Arunachal Pradesh should have its own RBI office.

Khandu assured all assistance from the state government for smooth establishment and functioning of its office in the state. He said it would ease up financial inclusion and transaction to a great level as for all purposes the state has to depend upon the RBI office at Guwahati.

As the Indian economy hugely depends upon financial inclusion of every citizen, RBI is committed to extend banking facilities to remotest parts of Arunachal Pradesh, Marandi said.

She sought the cooperation of the state government in providing digital connectivity which has become the core of all banking activities.

Marandi suggested installation of V-SATS in areas where cable connectivity has not yet reached or is almost impossible in the near future.

“The DoNER ministry can be pursued by the state government to liaise with ISRO and find possibilities of using its V-SAT facility for connectivity. Once connectivity is in place, we will pursue the banking sector to extend their facilities in these areas,” she suggested.

Marandi also suggested opening of Customer Service Points (CSPs) in rural areas, which offer almost all banking services. To expand the service, she sought the support of local administrations.