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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.

Last updated: 30 Aug 2014 08:15
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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.

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Source:
Al Jazeera
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