The India postal network has 1,54,822 post offices in the country. Of
these, 1,39,086 are in rural areas and 15,736 are in urban regions.
There are around 90,000 bank branches in the country and provision of
real-time banking services through postal network is estimated to triple
the current banking network.
The The Department of Post (DoP) has plans to start 50 bank branches in
the first year and scale it to a total of 150 branched in 5 years.
The Department of Post on Thursday June 27,2013 submitted application before the Reserve Bank for a licence to offer full-fledged banking services
The Post Banks are proposed to be owned by DoP but with a completely
independent board, governance structure and operations. It will have
representation from Ministries of Finance and Communication & IT
The RBI is in the process of granting fresh banking licences and has set July 1,2013 as the deadline for applying.
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