........“Since the proposal has financial consequences, we have told India Post to first approach the expenditure finance committee with their proposal before going for an inter-ministerial consultation on the matter,” said a finance ministry official who didn’t want to be named. A second finance ministry official confirmed this. He said the expenditure finance committee was yet to receive the note from the postal department. He said, however, that the committee was likely to clear the proposal once it’s received. “We cannot pre-empt how much money EFC will approve, however I am sure the proposal makes sense because they have such a vast network which they should utilize. The only thing is they have to develop the standards to meet the RBI guidelines,” he added.............
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