UPU Congress Backs Expansion of Postal Financial Services into Savings, Insurance & E-Wallets
SDG 8: Decent Work and Economic Growth | SDG 10: Reduced Inequalities
Institutions: Ministry of Communications
The 28th UPU Congress has amended the Postal Payment Services Agreement (PPSA) to allow postal operators worldwide to optionally expand into financial services such as savings, insurance, and e-wallets, subject to national laws. The initiative is designed to help posts diversify revenue streams amid declining mail volumes and deliver inclusive financial services in underserved regions. UPU will also support capacity building and encourage partnerships with fintech firms and insurers to enhance service delivery.
For India, this decision aligns with the governmentβs efforts to leverage India Post Payments Bank (IPPB) and the postal network of over 1.5 lakh post offices to deepen last-mile financial inclusion. The UPU framework provides multilateral legitimacy for expanding India Postβs role in digital wallets, micro-insurance, and savings products, complementing schemes such as Jan Dhan Yojana and Digital India.
India now has an opportunity to integrate UPU-backed reforms into its postal strategy, positioning India Post as a hybrid financial service provider for rural and semi-urban populations. This could strengthen financial inclusion, improve social protection delivery, and reduce reliance on informal financial channels.
Relevant Question for Policy Stakeholders:
How can India Post, in coordination with RBI and the Ministry of Finance, expand its mandate into e-wallets, micro-insurance, and savings while ensuring regulatory safeguards and financial stability?
Follow the full news here: https://www.upu.int/en/news/2025/september/upu-congress-backs-push-for-postal-financial-services-expansion