India to see rural credit card roll-out
India Post has stepped up its efforts to provide credit cards to rural customers. The Department of Posts (DoP) will introduce a prepaid service with a number of financial institutions.
Banking giants IDBI, HSBC and ICICI have entered the partnership, according to Daily India.
The service will allow rural customers to “facilitate non-cash transactions for purchasing products and services”.
According to the news agency, the cards will come with a pre-determined cash value. Once the deal is finalised with the Reserve Bank of India, customers could be allowed to use their cards at “merchant locations, ATMs and designated post offices”.
