The Small Industries Development Bank of India (Sidbi) now wants them to help it extend credit to micro-entrepreneurs. It has now partnered with India Post Payments Bank (IPPB) to carry out the task.
"This initiative aims to provide finance to micro-level entrepreneurs using the dakiya (postmen) network. The dakiyas will be our partners, receiving credit proposals from these micro-enterprises at the grassroots level," said Sudatta Mandal, Deputy Managing Director (DMD) at the CII Growth Summit in New Delhi on Wednesday.
Mandal further said that they will also assist in monitoring and collection of loans.
"This initiative is likely to commence next month," he added.
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