Banking & Post Office.
Your edit, Banking Options (DNA,July 3), gives an idea of the staggering network of post offices in the country – 1.55 lakh post offices including 1.4 lakh in rural areas mobilising Rs.1.9 lakh crore through 26 crore savings accounts. It is a mystery why the GOI and the RBI never thought of modernising its operations and upgrading its recruitment policy until now. It should have been the instrument for financial inclusion which is being proclaimed by the GOI/RBI for years now. The Private Banks were nationlised almost 50 years to help the poor and the marginalised but they have not been able to cover even the 50 percent of of our people. The Post Office should be the first get the banking license among 26 who have applied for it.
http://www.dnaindia.com/analysis/1856215/editorial-dna-edit-banking-options
July 3, 2013.
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