Finance ministry asks India Post to reroute bank proposal5 min read . Updated: 06 Aug 2013, 12:10 AM IST
Expenditure department asks India Post to first seek the approval of the expenditure finance committee
New Delhi: The expenditure department of the finance ministry has sent back India Post’s draft cabinet note seeking ₹ 1,900 crore to set up a commercial bank to another wing of the ministry and asked it to first seek the approval of the expenditure finance committee (EFC). The entity is proposed to be named Post Bank of India.
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