The long pending demand of the Department of Posts for Bank Licence may be granted. As per Communications Minister Ravi Shankar Prasad, the Reserve Bank is expected to grant Bank Licence to Department of Posts by September this year. ” This will enable the network of 1,54,000 Post Offices in the country to provide banking service”.

This is good news!

Much was heard in this regard as early during the UPA regime but nothing happened in the case of Department of Posts. However some private entities got the bank licence.