LET THE POSTMAN TURN BANKER: INDIA POST DESERVES TO GET A BANK LICENCE
India Post wants to own a bank. This is a great idea. In onestroke, this can ensure that millions more will get access to formal credit, in one of the most under-banked countries of the world.
The
biggest advantage for India Post, among the most enduring institutions
set up by the British, is its huge network and customer base. Compared
to roughly 1,00,000 commercial and rural bank branches in India, there
are 1,55,000 post offices, a majority in rural and semi-urban areas. As a
collector of small savings, it has experience in taking deposits — about Rs 6 lakh crore at last count — but not in lending. A bank licence for only India Post would mean that the network of bank branches would more than double in one stroke.
source- CHQ webpage
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