Wednesday, January 30, 2019
Postal department to spin off life insurance business into separate unit
The postal department plans to spin off the postal life insurance and rural postal life insurance operations into a separate business unit (SBU) for which it has moved a Cabinet note, Communications Minister Manoj Sinhasaid Wednesday. "For postal Life Insurance and rural postal life insurance we have moved a Cabinet note. In the first phase it will involve creation of an SBU and in second phase a full fledged insurance company," Sinha told reporters on the sidelines of an event to mark the second anniversary celebration of India Post Payments Bank (IPPB).