January 2, 2011 1:03 PM

printer

Postal department to provide credit cards to rural people

The Department of Post will collaborate with leading banks — IDBI, HSBC and ICICI Bank– to provide cards on the line of credit cards to rural people in order to facilitate non-cash transactions for purchase of products and services. The card will come with pre-determined amount in rupees and could be operated at merchant locations, ATMs and designated post offices subject to approval by the Reserve Bank of India. Telecom and IT Minister Kapil Sibal has said this in NewDelhi while disclosing his Department's 100-day agenda yesterday. Mr Sibal said that the department during the current fiscal year will introduce pre-paid parcel boxes for domestic parcels for 1 kg, 2.5 kg and 5 kg. The boxes will be sold through more than 800 post offices across the country. He said that the Government will complete the up-gradation of 15 Speed Post centres by31st March 2011. Three exclusive parcel booking centre are being set-up at Mumbai, Delhi and Bangalore.

Most Read
View All arrow-right

No posts found.