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Government plans to revise postal department

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  • 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.

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