India Post’s banking dream suffers a setback

India Post’s banking dream suffers a setback

Chidambaram didn’t earmark any funds for the postal department in the interim budget, nor did it mention the proposal. The long-cherished dream of the Indian postal department to float a commercial bank, has hit a major hurdle, after the government stopped short of providing the necessary capital needed for the department to enter India’s Rs.83 trillion banking industry.

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