Wednesday, July 3, 2013

India Post needs to become corporate for banking foray

.........The application by the Indian Postal department, which is a division of the ministry of communication and information technology, has raised some curiosity in the Reserve Bank of India (RBI). This was because RBI’s new bank licence norms – that was released in February this year – talked about new bank licence in the ‘private’ sector. Since India Post is a part of the ministry, it cannot be considered as a private sector entity..............

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