Department of Posts to seek Cabinet nod for Rs 1,900 crore funds

.....The RBI has issued comprehensive guidelines for new bank licences. It has fixed July 1 as the last date for filing application by interested entities. The DoP has proposed to start 50 bank branches in the first year and scale it to a total of 150 branched in 5 years. There are around 90,000 bank branches in the country and provision of real-time banking services through postal network is estimated to triple the current banking network........

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