United States
India possesses the largest postal network in the world. Post offices are the backbone of communication services in India and play a vital role in the resource mobilization efforts,especially in the rural areas. With new and upcoming technologies in this sector, it is playing a crucial role in the countryâs socio-economic development, as well as in generating employment. Owning to the far flung reach and presence in remote areas, post offices are involved in other services too. The three pillars of this sector, that is, the three main segments are Mail Services, Financial Services and Retail Services. The mail services sub sector has undergone a mail network optimization project to improve the quality of mail processing, transmission and delivery. Being the most widely distributed mail network in the world, there is abundant cope for growth in this segment.
Indian post offices also offer a lot of retail facilities to consumers like facility to pay electricity, telephone bills etc. Post offices also sell forms for public bodies. Besides this, computerized reservation for railway tickets has also commenced in selected post offices. All of these facilities can be provided due to the vast network of post offices across the country. In rural areas, in the absence of banks, post offices play a vital role by providing banking facilities. The postal services financial segment is by far the oldest and largest banking system in the country, serving the investment needs of both rural and urban clientele. Various savings, insurance and schemes are provided by the post offices.
Related Sub-Sectors
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Retail Services
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Mail Services
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Financial Services