In its bid to diversify the varied fi nancial services and helping the common people, India Post is considering to launch a full-fl edged banking system- "Post Bank of India" in the country, the Hindustan Times reported.
The announcement was made by Union Minister of State for Communication and Information Technology Dr Shakeel Ahmed, who noted that the main aim of introducing the banking system was to offer loans to the people in the remotest parts of the country exploiting the vast network of India Post.
"We are having discussions with the Union Finance Ministry in this regard and some amendment will be made in the postal act, if necessary, to ensure the full-fl edged banking system by India Post," Dr Ahmed said. He added that his department was taking a number of steps to make India Post "a hub of multiple activities." He also informed that all the 150 post offi ces in the country would be linked with the National Data Centre during the 11th fi ve-year plan.