India post to set up 300 financial marts by March 2007 (also intends to expand rural postal life insurance business)

The Department of Post, Government of India, aims to increase postal financial marts to 300 by the end of 2006-2007. Hence, India Post has tied up with banks, including ICICI Bank and Corporation Bank, to set up financial marts in the country. It also plans to hire retired officers for expanding rural postal life insurance business. India Post also aims to have 8,100 fully computerised post offices and savings bank accounts by Mar 2007.