- After RBI granting ‘in-principle’ approval to Postal Department to set up payments bank, 1.5 lakh post offices are going through a transition mode.
- Communications Minister Ravi Shankar Prasad said that the 1.50 lakh post offices throughout India will play a lead role in financial inclusion.
- Growth of e-commerce fetched postal department a business of worth Rs 600 crore in the last 2 months.
- Rural post offices will soon get handheld devices from the government.
- Through payments bank licence, Department of Post (DoP) with its vast network of 1,54,000 post offices can offer best banking service in rural areas.