India Post, the state-run mail company which failed to make the cut during the latest round of bank licensing, is actively considering whether to apply for a payment bank licence.
Kalpana Tewari, member for planning & technology at Department of Posts, said: "We intend to get into the banking space.
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"We are waiting for the final guidelines to see how we fit into it and the benefits to the organisation. At present, we only have savings bank accounts and do not have credit or overdraft facility, since it is beyond our mandate. We have to work on these areas," she added.
Preparing itself to foray into banking space, India Post announced the launch of about 1,000 ATMs in the near feature.
"We plan to roll out 3,000 ATM by FY18, of which 1,000 will be in the near future," Tewari said.
India Post, which has been handling financial services such as post office savings schemes, postal life insurance and money remittance services for several decades, currently, has operated two ATMs.
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By GlobalDataLast week, RBI deputy governor R Gandhi said the Union government had to decide on an application for a banking licence by India Post.
