Task Force proposes to divide India Post into five biz verticals
New Delhi, January 6:
Prime Minister Narendra Modi is expected to review a report on the
revival of India Post soon.
Official sources said that Minister for Communications and Information
Technology Ravi Shankar Prasad has approved the task force report and will
submit it to the prime minister for a review.
The task force had submitted its report to Prasad in December,
recommending division of India Post into five verticals, including one each for
banking, insurance and e-commerce, with India Post being the holding company.
“The minister is expected to meet the prime minister on Wednesday for
an in-principle approval. The task force has highlighted priority areas, which
would give a fillip to our postal department,” an official told BusinessLine.
The Centre is also investing ₹5,000 crore for IT modernisation in India
Post.
He said priority tasks include providing banking and insurance services
to the public and making e-commerce companies such as Amazon, Flipkart and
Snapdeal use India Post’s services.
“The main purpose is to utilise the network in line with the Prime
Minister’s vision of reaching rural areas for financial services through
innovation and digital connectivity instead of mere postal services,” the
official added.
The task force, chaired by former Cabinet Secretary TSR Subramanian,
was set up by the Prime Minister last year.
The idea was to leverage India Post’s wide reach across India.
Snapdeal has already partnered with India Post to work on bringing
thousands of weavers and artisans from Varanasi on its website. The online
company has launched a pilot with India Post to set up facilitation desks at
Varanasi post offices to enable local weavers to sell their products on its
platform.
Source : http://www.thehindubusinessline.com/
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