Post offices to turn into 'Post Banks of India'

The Centre has planned to convert post offices across the country into banks, and a bill in this regard will be introduced in Parliament in the winter session, Minister of State for Communication and Information Technology Shakeel Ahmad today said.

Apart from functioning as a post office, it will also have full-fledged banking facilities, Ahmed explained to reporters, saying it will be known as the ‘Post Bank of India’.

The minister said a bill seeking amendment to the Postal Act of 1898 for the purpose will be introduced in Parliament in the coming session.

Ahmad, the Congress MP from Madhubani in Bihar, said that the number of post offices in the country was almost double that of all branches of banks taken together and more post offices would be opened in the 11th Five Year Plan.

Ahmad said the postal department will organise big programme at Motihari in December on the centenary of Mahatama Gandhi’s journey to South Africa