Sunday, September 09, 2018

Post department to set up insurance company in 2 years: Manoj Sinha

The Department of Posts is working to set up an insurance company after launching of a payments bank and the parcel directorate, Communications Minister Manoj Sinha said.
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"Departments of Posts is now reincarnating itself. After diversifying its business with parcel directorate and payments bank, the department has decided to set up insurance firm as a special business unit in two years," Sinha told PTI.

"The request for proposal to appoint a consultant for setting up insurance unit will be floated in the coming week," Sinha said.

Prime Minister Narendra Modi launched India Post Payments Bank (IPPB) on September 1 that aims to take banking to the doorstep of every citizen by arming three lakh postmen and 'Grameen Dak Sewaks' with digital aids to deliver financial services.

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