In a bid to augment its revenue, the postal department would soon commence life insurance business, Union Minister for IT and Telecom A Raja has said.
Addressing a function at Perambalur, 45 km from Tiruchirapalli on Saturday, Raja said the Life Insurance policies would be introduced at the post offices across the country.
Further, loans sanctioned by National Bank for Agricultural and Rural Development 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 1.60 lakh post offices across the country would be computerised in a phased manner. In the first phase, Rs 40 crore (Rs 400 million) has been sanctioned and under this phase 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 2 crore (Rs 20 million).
A new building would also come up at Thuraiyur head post office in Tiruchirappalli district at a cost of Rs 1 crore (Rs 10 million).
