"An intra-ministerial committee is looking into the modalities of the Bill. We need a legislation to regulate courier services as no such legislation has been mooted so far," he said launching international e-money order between India and UAE and a fragrant stamp on Jasmine here.
To make the Department of Posts economically competitive, a proposal has been sent to the prime minister to convert real estate assets of the department into commercial centres with active participation of the private sector.
"The proposal has been sent to the prime minister and a committee of secretaries has been constituted to look into this," he said, adding that the department as of now was incurring a loss of Rs 500 crore annually.
Raja said the department was also in talks with various nationalised banks to offer various banking and insurance services through its vast network of post offices in the rural areas.