MUMBAI: Reserve Bank
Deputy Governor R Gandhi today said the Union government has to take
a final call on application for banking licence by the India Post, which has a
network of over 1.5 lakh post offices countrywide.
"India
RBI, which approved
only two names out of the 25 applicants in February this year, had left it to
the government to decide on the way ahead with India
According to reports,
the Ministry of Finance, which controls 27 state-run commercial banks, is
averse to the idea of the postal department getting into banking.
The RBI says
that deepening the financial inclusion is a key objective of granting more
licenses and according to some experts the existing network of India
Meanwhile, on payment
and differentiated banks, Gandhi said RBI has received a slew of suggestions on
the draft guidelines and is analysing them. He reiterated that this is a
priority area for the central bank and it will come out with final guidelines
by the end of the year.
//economictimes//
