Cabinet note to spin off the PLI & RPLI
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).