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| Minister for Communications and IT, Mr. Kapil Sibal with MoS, Mr. Sachin Pilot, at the FICCI round table on National Postal policy 2012 , in the capital on Wednesday. |
NEW DELHI, FEB. 1:
The
Postal Department has applied to the Reserve Bank of India for a
banking licence, the Communications Minister, Mr Kapil Sibal, said here
on Wednesday.
Mr Sibal said he had written to the Finance Minister, Mr Pranab Mukherjee, to expedite the granting of licence.
Speaking
on the sidelines of the postal policy round table organised by FICCI,
Mr Sibal said, “A national postal policy targeting expansion and
modernisation of the postal network would be announced during this year.
The Government does not intend to issue licences to courier service
companies, but would make it mandatory for them to register.”
Aimed
at modernising postal services, the policy is expected to make the
department adopt a more financially viable revenue model. It would also
provide affordable services at all points in the country as part of its
Universal Service Obligation, the Minister said.
The
Department is also expecting large-scale private sector participation
in providing value added services and extending its product range beyond
the current core functions.
“There
are tremendous opportunities for the private corporate sector to use
its ingenuity to create innovative products and delivery mechanisms
through the Indian postal network,” Mr Sibal said.
India currently has 1.55 lakh post offices, 95 per cent of which are located in rural areas.
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