Barclays gets help from India Post's 8,000 branches with cash management

Barclays itself only has six branches in India, so agreement with India Post allows it to punch above its weight

Barclays Plc’s attempts to scale up its cash management business in India via a tie-up with the country’s post office are starting to bear fruit, according to the U.K. bank’s local corporate banking head.

The deal with the 164-year-old mail service, first agreed in 2015, allows Barclays to offer its cash management services via some 8,000 postal branches spread out across the country. That’s vital for winning business from large Indian and global companies, which often have operations in many different cities.

“Our penetration and share among the largest multinational and domestic corporates has grown, and continues expanding at a