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


    YOU MIGHT ALSO LIKE

    'We will cut your throats': The anatomy of Greece's lynch mobs

    The brutality of Greece's racist lynch mobs

    With anti-migrant violence hitting a fever pitch, victims ask why Greek authorities have carried out so few arrests.

    The rise of Pakistan's 'burger' generation

    The rise of Pakistan's 'burger' generation

    How a homegrown burger joint pioneered a food revolution and decades later gave a young, politicised class its identity.

    From Cameroon to US-Mexico border: 'We saw corpses along the way'

    'We saw corpses along the way'

    Kombo Yannick is one of the many African asylum seekers braving the longer Latin America route to the US.