GOVERNMENT
OF INDIA
MINISTRY
OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
LOK SABHA
UNSTARRED QUESTION NO 32
ANSWERED ON 07.07.2014
BANKING
SERVICES IN POSTAL DEPARTMENT
32 . Shri HANSRAJ GANGARAM AHIR
Will the Minister of COMMUNICATIONS AND INFORMATION
TECHNOLOGY be pleased to state:-
(a) whether the Department of
Posts has applied to Reserve Bank of India (RBI) for allowing them to
provide banking services in the country;
(b) if so, the details thereof;
(c) whether the Department has
set up adequate infrastructure for providing banking services while remaining engaged in postal services in
the country;
(d) if so, whether Department of
Posts has done any preparation for making the banking system successful; and
(e) if so, the details thereof and the steps taken by the
Government in this regard?
ANSWER
THE MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY & LAW AND JUSTICE (SHRI RAVI SHANKAR PRASAD)
(a ) & ( b) Yes Madam. The
Department of Posts had submitted an application to Reserve Bank of India
seeking licence for undertaking Banking Operations on 28.06.2013. The Reserve Bank of India
vide its press release dated April 2, 2014 posted in its
website listed the two applicants to whom it had issued in-principle approval
for banking licences. The Department of Posts did not figure in the said list.
(c) No Madam. The department of
Posts has not created any infrastructure for providing banking services while
remaining engaged in Postal Services in the country.
(d) & (e) Does not arise in
view of reply given to (c) above.
Source: Lok Sabha Q&A
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