India Post Finds New Life as an Insurance Provider
Today, India Post’s most popular product continues to be the postal savings bank, which holds the savings
of over 200 million small investors and is growing. A recently released report by the Associated
Chambers of Commerce and Industry and PricewaterhouseCoopers projects household savings to reach
US$5 trillion by 2020, up from US$330 billion currently. “The government wanted to harness these
funds, which are still growing, and insurance became the ideal vehicle,” notes Rashesh Shah, chairman of
investment bank Edelweiss Capital, and an advisor to India Post.
