For the India Post, the Union government is likely to earmark Rs 1,300 crore to enable it to make a foray into the banking space. The Expenditure Finance Commission will meet this month and finalise the fund to be provided to India Post for the proposed Post Bank of India, a finance ministry official said. The Department of Post, which has applied to the Reserve Bank for a new bank licence, had last month approached the Finance Ministry for sanctions of Rs 1,300 crore for its banking foray and t
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