Post office finance mart in M'lore

The Department of Posts is on the way of making profits despite the losses suffered during the previous years. It's in the process of becoming self-sufficient.

The Postal Finance Mart is one step in this direction, H P Rajalingam, director of postal services, South Karnataka said here.

Speaking after inaugurating the Postal Finance Mart at the Balmatta Post Office, he said the department is facing competition from all directions. In the era of globalisation this has become a necessity.

The first Postal Finance Mart was opened in Mysore and its success has inspired the department to open more Marts. Soon they would be opened in all district headquarters, he said.

The department is ready to provide world class service. In this connection its staff is being given adequate training.

The public should make the best use of the facilities provided, he added.

N R Vishalakshi, senior superintendent of post offices, Mangalore division said the Postal Finance Marts would offer all banking solutions under one umbrella.

Other than postal savings scheme, the mart would provide mutual funds of Unit Trust of India (UTI) and Oriental Insurance Company Limited, Postal Life Insurance, Western Union Money Transfer, among others.

With the introduction of this service, financial services would be segregated from other postal services, Vishalakshi added.