Postal payment bank to revitalize postmen

Thousands of postmen, who are fast losing their relevance due to the onslaught of modern gadgets, will once again be the most visible faces, thanks to the launch of postal payment bank from September this year.

Postmen across the country will be provided 1.30 lakh hand-held devices and will function more like mobile ATMs in the rural belt of the country.

Union Law and Justice Minister Ravi Shankar Prasad made this announcement in Patna on Sunday.

The Postal Payments Bank will provide banking services, insurance, third party delivery and collection of EMIs in rural pockets.