Post offices to offer life insurance policies

Post offices to offer life insurance policies
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First Published: Mon, Jul 02 2007. 07 18 PM IST
Updated: Mon, Jul 02 2007. 07 18 PM IST
PTI
Tiruchirapalli: In a bid to augment its revenue, the postal department would soon venture into life insurance space, IT and Telecom Minister A Raja said.
Addressing a function at Perambalur, 45km from here, Raja said the life insurance policies would be introduced at post offices across the country.
Also, loans sanctioned by National Bank for Agriculture and Rural Development (Nabard) would be distributed to women’s self help groups through post offices. This would help effective implementation of the scheme in rural areas, he said.
Raja said all the 160,000 post offices across the country would be computerized in a phased manner. In the first phase, Rs40 crore has been sanctioned and under this phase and one region would be computerised in every circle of the department.
At a function to mark the upgradation of a sub-post office into Head Post Office at Perambalur, Raja said a full- fledged complex would be constructed for the post office at an outlay of Rs two crore.
A new building would also come up at Thuraiyur Head Post Office in Tiruchirappalli district at a cost of Rs1 crore.
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First Published: Mon, Jul 02 2007. 07 18 PM IST