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The RBI governor, who is known for
his candid
comments, suggested that
the ‘Post Bank’ could
be given a
limited banking licence that will be
able to raise deposits and
offer payment and
remittance services.
|
NEW
DELHI: Reserve Bank of India governor Raghuram Rajan has backed the postal
department's demand to set up a bank, even as the finance ministry has tried to
block the move.
At
the annual day lecture of the Competition Commission of India on Tuesday
evening, the RBI governor, who is known for his candid comments, suggested that
the 'Post Bank' could be given a limited banking licence that will be able to
raise deposits and offer payment and remittance services. There will, however,
be restrictions on investments and the entire amount would be have to be parked
in government securities.
"...the
proposed Post Bank could start as a payment bank, making use of post office
outlets to raise deposits and make payments," Rajan said.
Source : http://timesofindia.indiatimes.com/
