Indian postal service eyes banking to survive

As revenues from traditional services drop, India Post now wants banking licence to operate from its 150,000 branches.

    India Post is one of the world's largest postal networks and for centuries has served as a communication lifeline for hundreds of millions of people.

    But moving mail does not make money the way it used to, and after years of losses the company now wants a banking license.

    With 150,000 post offices across the country, it says it can reach more people than any traditional bank.

    Nidhi Dutt reports from New Delhi.

    SOURCE: Al Jazeera


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