India Post ties up with IDBI to sell govt securities

India Post has tied up with IDBI Capital Market Services to buy and sell government securities through post offices. Initially, the scheme is being introduced through select post offices located in Tamil Nadu, Andhra Pradesh, Mumbai and New Delhi.

Dayanidhi Maran, Union minster, Communications and Information Technology, launched India Post's new venture on Tuesday in Chennai. Maran said that the postal department would bring about changes to keep pace with the new developments in communication.

He said that one lakh common service centres in villages would be started to offer value added services such as web browsing, e-post and other value added services. The service centres would be launched initially with one centre for every six villages.