Finance minister Nirmala Sitharaman Saturday announced the govt’s plan to transform India Post into a large logistics organisation with 1.5 lakh rural post offices.
In her Budget speech, Sitharaman said India Post’s rural post offices will emerge as a catalyst for the rural economy. “India Post with 1.5 lakh rural post offices, complemented by the India Post Payment Bank and a vast network of 2.4 lakh Dak Sevaks, will be repositioned to act as a catalyst for the rural economy.
India Post will also be transformed as a large public logistics organisation. This will meet the rising needs of Viswakarmas, new entrepreneurs, women, SHGs, MSMEs, and large business organizations.”
India Post’s range of services will now include rural community hub colocation; institutional account services; DBT, cash out and EMI pick-up; credit services to micro enterprises; insurance; and assisted digital services. The FM added services of India Post Payment Bank will be deepened and expanded in rural areas.