DoP should target 25 cr postal savings accounts: Prasad

The Department of Post should aim for 25 crore postal savings accounts in coming years from current 17 crore and make efforts to link the same with India Post Payments Bank to achieve goal of financial inclusion, Communications Minister Ravi Shankar Prasad said on Tuesday.

Speaking at an event marking National Postal Week Celebrations here, the minister urged the Department of Post (DoP) to considerably enhance postal insurance accounts.

He said that 3.05 crore insurance accounts in a population of 130 crore is unacceptable, according to an official release. Prasad also urged the DoP to forge partnership with global companies and added that the administrative issues, if any, could be resolved amicably.

He asked senior officials of the Department to work on a set of special stamps on Mahabalipuram (Mamallapuram) in the backdrop of successful informal summit between Prime Minister Narendra Modi and Chinese President Xi Jinping, keeping in mind the historic significance, the release added.