POSB Rates for the Year 2015-16
Item / Category
Rate per unit
Savings Certificates (NSC,KVP)
Indira Vikas Patra
Thursday, 21 May 2015
Rates of Remuneration payable to DoP for Savings Bank and Savings Certificates work for the Year 2015-16
Tuesday, 19 May 2015
Com.B.G.Tamhankar Ex-President of NFPE & AIPEU Group - C, CHQ breathed his last today (17.05.2015) at 07.30 AM. He was severely ill for last many days.
This is the second biggest shock to the entirety of trade union fraternity after the sad demise of Com. S K Vyasji, earlier this year. Even after his retirement, Com Tamhankar remained active in union activities and was attending all programmes conducted by our CHQ / NFPE. I had interacted with him for the last time during the workshop on 7th CPC conducted by our CHQ in New Delhi in May, 2014. He has compiled some useful guide books for S B Counter P As and Supervisors. He will be remembered for ever for his contributions towards the working class, his simplicity and soberness .
SAPOST conveys heartfelt condolences to the bereaved family members and the Comrades of Maharashtra Circle.
Let the departed soul rest in eternal peace.
Thursday, 14 May 2015
NEW DELHI: Underscoring the importance of India Post, Telecom Minister Ravi Shankar Prasad today claimed that even Maoists don't target the postal network for the fear of losing people's support.
"People of the country still trust the postal department. I want to tell you a very sensitive thing... there is so much of Maoist violence, but still, the attacks on post is low because they (Maoists) also know that if they try to attack it, the people will be unhappy with them," Prasad said during the launch of a mobile app for India Post.
The Minister suggested that India Post should strive to become the largest player in the e-commerce segment.
"I want that in e-commerce, India Post should become the largest player and you have to do it... if you take 4 steps, I will take 10 steps with you because I am seeing that in India, e-commerce has got a very good future," he said.
Prasad assured the staff that not even a single employee would lose his job even as he exhorted them to change with times.
The postal department has established the e-commerce centre at Safdarjang in New Delhi which will handle e-retailing exclusively. It's equipped with modern technology and is capable of handling 30,000 parcels per day.
Leading e-commerce players such as Amazon, Paytm, Yepme, Snapdeal and the like are already using services of India Post.
The mobile app for India Post is android-based and includes features like real-time tracking, post office search and postage calculator.
India Post has over 1.55 lakh post offices, of which more than 1.39 lakh are in rural areas.
Prasad said in a Facebook post, "I am happy to share with you that India Post collected Rs 500 crore from Cash on Delivery of eCommerce parcels alone in 2014-15."
The Minister said he met the representatives of eCommerce majors and assured them of the best services from India Post.
Source : http://economictimes.indiatimes.com/
Tuesday, 12 May 2015
Postal department has decided to rope in professionals from the private sector for Post Bank of India (PBI)
As PBI is to use the department's infrastructure - real estate, office premises, computers, information technology system and a large part of its staff - to run the payments bank, the department expects to earn a revenue of Rs 2,365 crore over the first five years of operations, through transfer pricing. This will help the government reduce the subsidy it annually gives the department for running its operations.
The postal department's deficit for 2015-16 has been pegged at around Rs 6,665.09 crore, according to Budget documents. This had stood at Rs 6,377.89 crore the previous year, and Rs 5,339.28 crore in 2013-14.
According to sources, the Reserve Bank of India (RBI) could approve issue of licence for this payments bank by August this year, after which the process for setting it up might start.
Within three months of getting the licence, the department will hire key resources like chief executive officer, chief financial officer, chief operating officer, chief people officer and chief risk officer, according to a presentation recently made before Communications Minister Ravi Shankar Prasad.
This core team will take up the increased responsibility during the first 12-18 months after approval of licence, and assume full charge around the date of the launch. PBI is expected to become viable within three years of operations and is projected to generate annual profits of about Rs 91 crore by the end of five years.
The department will soon move a Cabinet note for approval of Rs 650 crore as investment in the proposed payments bank.
For PBI, the plan is to have a hub-and-spoke model. There will be 650 main branches where the department will have head or bigger post offices. Subsequently, 25,000 'spoke' branches will be set up, while some 130,000 post offices with act as business correspondents for the payments bank.
The idea will be to target rural customers with products like small savings accounts, payments/remittances services and assistance in getting loans and insurance products from third-party institutions. For urban customers, the products will include pre-paid wallets for easy remittances and micro insurance products. Also, there will be an attempt to tap micro and small businesses with their products. The focus will be on high-volume, low-value transactions and providing small savings accounts and payment services to migrant labour, low-income households and the unorganised sector, according to the presentation.
The department had earlier proposed a fully-owned and new entity as an umbrella firm for its four or five strategic business units, to look after banking & financial services and insurance, and for offering third-party products, besides e-commerce and management of government services.
And, a few of these units will be hived off into separate entities; a feasibility study for setting up new units will start sometime this year.
The postal department has a 150,000-strong network of post offices across the country which directly employ 500,000 people. The department is largely moving in line with the report of a panel headed by former Cabinet Secretary T S R Subramanian in this regard.
In the Budget speech this year, Finance Minister Arun Jaitley had said the government was committed to increasing people's access to the formal financial system. "The government proposes to utilise the vast postal network, with nearly 154,000 points of presence across villages of the country. I hope the postal department will make its proposed payments bank venture successful, so that it contributes further to the Pradhan Mantri Jan Dhan Yojana."
While remittance is a big segment, 55-60 per cent of this happens through the unorganised sector. The department is looking to strengthen its foothold in this space. Half of India's remittance market, estimated to be worth Rs 2 lakh crore, is in the informal sector, and does not reflect in official numbers (on remittances through India Post, mobile wallets, etc) for want of clarity on definition of migrants.
Apart from India Post, other applicants for a payments bank licence include Bharti Airtel, Vodafone India, Idea Cellular, Uninor and Reliance Industries. Unlike full-fledged banks that make money on float through arbitrage - they lend money at higher interest rates than what they pay depositors, and do not charge on transaction services - this proposed payments bank will charge for services, primarily cash-outs and cash-ins. The proposed entity could deposit the amount in government securities and earn annual interest at 8-8.5 per cent, and it might give customers three to four per cent on the amount. However, unlike scheduled banks, they will not be allowed to use the cash for giving loans.
Source : http://www.business-standard.com/article/companies/post-bank-to-get-professionals-from-pvt-sector-115051100059_1.html
Official Android Application Of India Post By CEPT
Download App from Google Play Store : Download
Demo Video : View
Postinfo - Department Posts Android Mobile Application
The Union Minister for Communications & Information Technology, Shri Ravi Shankar Prasad addressing at the dedication of the e-Commerce Centre to the Nation and launch of India Post Mobile App, in New Delhi on May 11, 2015. The Secretary (Posts), Ms. Kavery Banerjee and other dignitaries are also seen.
India Post Partnering e-Commerce
Dedication of e-commerce Parcel Centre, Safdarjung, New Delhi & Launch of India Post Mobile App by Hon'ble MOC&IT on 11th May, 2015
From L to R : Shri T. Murthy Member (O), Shri A. B. Joshi Member (Tech), Hon'ble MoC & IT Shri Ravi Shankar Prasad, Ms Kavery Banerjee Secretary (Posts)
Hon'ble MoC & IT Shri Ravi Shankar Prasad Ji launching the India Post Mobile App.
Hon'ble MoC & IT Shri Ravi Shankar Prasad Ji unveiling the plaque to dedicate the e-commerce centre to the Nation on 11/5/2015
Saturday, 9 May 2015
Press Information Bureau
Government Of India
Government Of India
Ministry of Communications & Information Technology
(08-May, 2015 15:49 IST )
(08-May, 2015 15:49 IST )
E-Commerce Centre of Post to start from Monday
Considering the rapid growth of e-commerce business in the country in the recent past, the Department of Posts, through Delhi Postal Circle has taken up a project to establish the e-commerce Centre at Safdarjang, New Delhi-110003.This processing centre will handle exclusively all the e-commerce business with the state of the art technology driven facility for quick and smooth operation starting from booking till dispatch from the centre.
The Centre is equipped with modern technology and newly introduced conveyor belt where parcels get sorted with the help of conveyor belt. As a result, the e-Commerce Centre is now capable of handling 30000 parcels/articles per day. The parcels are collected from the e-commerce customers, processed & dispatched within 24 hours to respective destination through quickest available flight/train, as the case may be.
The leading e-commerce customers, viz., Amazon, Paytm, Yepme, Snapdeal, etc are already availing the benefits of fast, reliable and safe processing of their e-commerce parcels at the newly established e-commerce Centre at Safdarjang in New Delhi.
The e-commerce Centre at Safdarjang, New Delhi -110003 is to be dedicated to the Nation by Sh. Ravi Shankar Prasad, Hon’ble Minister of Communications & Information Technology on 11th May 2015 .
India Post Mobile App is also launched by the Hon’ble Minister of Communications & Information Technology on the occasion. .This is an android based application developed by Centre for Excellence in Postal Technology (CEPT), Mysore. The application includes features like real time tracking of accountable articles, Post Office search, Postage calculator, etc through Mobile Phone.
(Release ID :121431)