Department of Posts to introduce Credit Cards for rural people

The Department of Post (DoP) will introduce a prepaid credit card in association with leading banks including IDBI, HSBC and ICICI to rural people, which will facilitate non-cash transactions for purchasing products and services.

The card - 'White label Pre-paid Cards' - will come with pre-determined cash value and could be operated at merchant locations, ATMs and designated post offices subject to approval by the Reserve Bank of India (RBI).

Disclosing his department's 100-day agenda, Telecom and IT Minister Kapil Sibal has said: "The department during the current fiscal year will introduce pre-paid parcel boxes for domestic parcels for one kg, 2.5 kg and five kg.

"The boxes will be sold through over 800 post offices across the country," he added

He further said that the Government would complete the up-gradation of 15 speed post centres by March 31.

DoP will also finalise the vendors for information technology solutions, which include customer interaction management, mail operations, banking, postal life insurance, enterprise-wide human resource management, among others.

The project is phased over the financial years 2010-11, 2011-12 and 2012-13.

source : economictimes.indiatimes.com via http://www.imyideas.com/