Postal Department applies to RBI for banking licence

Minister for Communications and IT, Mr. Kapil Sibal with MoS, Mr. Sachin Pilot, at the FICCI round table on National Postal policy 2012 , in the capital on Wednesday.

NEW DELHI, FEB. 1: 

The Postal Department has applied to the Reserve Bank of India for a banking licence, the Communications Minister, Mr Kapil Sibal, said here on Wednesday.

Mr Sibal said he had written to the Finance Minister, Mr Pranab Mukherjee, to expedite the granting of licence.

Speaking on the sidelines of the postal policy round table organised by FICCI, Mr Sibal said, “A national postal policy targeting expansion and modernisation of the postal network would be announced during this year. The Government does not intend to issue licences to courier service companies, but would make it mandatory for them to register