Key questions remain about the operational and financial viability of a completely paperless bank such as India Post, says Mayank Jain.
If the government has its way, letters weighing below 500 gms will be carried exclusively by Department of Posts as the over-a-century-old Indian Postal Act 1898 is set to be amended most likely in the Budget session.
The Indian Post Payments Bank will be a boon to Indians who live in rural areas. India has 154,000 post offices, of which 139,000 are rural.
According to sources, the postal bank will tie up with other banks and financial companies to offer products like loans, mutual funds, and insurance policies to its customers.
This project aims to transform India Post into a technology-enabled and autonomous market leader.
The department of posts will start a service to distribute campaign material for companies and revamp its VPP service, to tap the high volume business segment.
The delivery channel of India Post is being utilised primarily for small towns and cities.
Economic affairs secretary S C Garg said that all macroeconomic parameters are performing well.
Sekhar Kammula talks about his upcming film Life Is Beautiful.
Consumers and businesses can tweet to communications minister Manoj Sinha (@manojsinhabjp) using #DOTSeva, #BSNLSeva, #MTNLSeva, and #PostalSeva.
Replying to supplementaries during Question Hour in Rajya Sabha, Telecom Minister Kapil Sibal said there are 154,688 post offices in the country, the largest postal network in the world.
The government has allowed companies to send notices and documents to their shareholders and members electronically in order to facilitate paperless communication.
All 'grameen dak sevaks' in rural post offices will be given handheld devices by March 2017.
As many as 12,394 complaints of alleged corruption were received against railway employees.
The government of India will deposit Rs 200 per month for Gramin Dak Sevaks involving an annual expenditure of about Rs 70 crore (Rs 700 million) to provide for the financial security for them and their spouses after retirement from the service at the age of 65, Minister of State for IT & Telecom Sachin Pilot told reporters in New Delhi.
The many colours of India came alive as the famous Surajkund crafts fair began near Delhi on Tuesday with ethnic wares from all over the country on display and Department of Posts releasing a commemorative cover and stamp to mark the event's 25th anniversary.
Receiving Ganga water by post could be a reality soon as the government endeavours to tap the e-commerce platform to bring the holy water at the doorsteps.
Just 5 departments account for about 88 per cent of the Union government's civilian employees. A leaner bureaucracy will help Modi keep his promise of maximum governance with minimum government, says A K Bhattacharya.
Moving beyond selling application forms, the Department of Posts has started offering a complete package to agencies and companies for their recruitment process.
The postal department would be floating tenders for procurement of hardware and development of software. Pilots will be held in rural and urban post offices and the final roll out will be completed by September 2012.
The Indian government has directed all air and seaports and the postal department to thoroughly check any cargo coming from Yemen and Somalia in the wake of detection of two American-bound parcel bombs sent from Yemen in an alleged Al Qaeda plot.
So far 2,06,024 pensioners have submitted DLCs.
The pace of retail price rise in January 2016 is the highest since 6.46 per cent in September 2014.
The Department of Posts has decided to hire a professional agency to prepare a roadmap for its proposed banking initiative.
The department of post launched a new service on Wednesday that would enable customers to trace their mails through short messaging service.
Among the strategies provided to make postal services commercially viable are tying up with fast moving consumer goods companies, gift shops, cellular service companies, banks and other financial institutions to deliver their products, mobile bills and debit/credit card statements.
Just as many may not have written a letter in ages, an equally large population -- larger, in all probability -- may not have ever used email. Into this breach steps the Department of Posts, with 'ePost Corporate'.
Speaking to reporters after signing up with Sistema Shyam Teleservices (which offers phone services under the 'MTS' brand) to offer e-recharge services at 50 post offices here, Chennai City Region post master general M S Ramanujan said DoP has over 1,50,000 points of presence and about 25,000 offices across the country, a majority of which are located in the rural parts of the country.
Just as many may not have written a letter in ages, an equally large population -- larger, in all probability -- may not have ever used email. Into this breach steps the Department of Posts (DoP), with 'ePost Corporate'.
Payments banks are niche banks which will be allowed to function with several restrictions.
Jaitley said banking network is expanding hugely and the health of banks reflects on the challenges for the economy.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Your friendly postman, besides delivering letters, could soon be collecting crucial data on consumer prices, if a proposal from the Union ministry of statistics and programme implementation is accepted by the Department of Posts.
In view of financial constraints, government has taken a policy decision to open new post offices, wherever necessary, by redeployment of existing employees and within the available resources with the department, minister for communication and IT A Raja said in the Lok Sabha during Question Hour.
Retail inflation rose marginally to 9.84 per cent in September, mainly due to a hike in food prices, particularly of vegetables.
The IT modernisation project with this outlay was approved by Cabinet Committee of Economic Affairs in November 2012.
This project christened 'Project Arrow' has been launched to initially upgrade 500 post offices, across 10 circles, mostly in rural areas, by the end of this calendar year. Under the project, 500 post offices will receive a makeover, to represent the standardisation of quality. The department of posts has developed standardised and consistent interior and exterior blueprints for 500 post offices and will install uniform modular furniture across the post offices.
To begin with, the service will be available in 30 places across the country. The postal department would issue railway tickets through the computerised Passenger Reservation System (PRS) counters provided by the railway ministry.
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