India Post could become a  vibrant  (exciting)  bank

Rana kapoor

NEW DELHI: Early introduction of Goods and Services Tax and Direct Taxes Code will help revive the sagging economic growth which declined to a decade low of 5 per cent last fiscal, newly elected Assocham (The Associated Chambers of Commerce and Industry of India)  President Rana Kapoor said.

"GST alone can increase India's GDP by 0.9 per cent to 1.7 per cent in the medium term and between USD 325 billion and USD 637 billion in the long-term. It can significantly boost the country's economy," Kapoor told reporters here.

"The government should utilise the cash surplus of PSUs to boost investment. The surplus funds, which can be invested for capex, are estimated at Rs 2.8 lakh crore. Assocham would also work with the government on enhancing investment in urban infrastructure to sustain growth," he said.
On new bank licenses, Kapoor, who is also CEO and MD of Yes Bank, said there is definitely a need for more banking services in the country, either from existing players or from new entrants. He further said that India Post could become a vibrant bank by using the existing infrastructure of the postal department.
//http://economictimes.indiatimes.com/news/ dated 26.07.13//