Bringing ticket booking facilities to the doorsteps of passengers, Indian Railways will from now allow selling of reserved tickets through post offices.
The government on Thursday appointed PSU mutual funds UTI MF and SBI MF as managers of the corpus lying with postal and rural life insurance entities, a move that could lead to investment of the sum into the booming capital market.
More than five lakh aspirants will take the exam on January 7 and 8, 2017.
The Ministry of Statistics and Programme Implementation (MOSPI) is in talks with the Department of Posts to take the help of its staff in collecting sample data for the proposed Consumer Price Index for Rural India (CPI-R). The data for the index would be collected from 1,000 villages, Chief Statistician of India Pronab Sen said on the sidelines of a national seminar on the results of the 61st round of the National Sample Survey.
The department of post is planning to offer banking services by starting a full-fledged bank, to be named Post Bank of India.
The department of post is in the process of floating a separate company to bring its Postal Life Insurance and Rural Postal Life Insurance products under the ambit of the Insurance Regulatory and Development Authority, an official said on Saturday.
Funeral and cycles allowances have been retained and revised.
Claims to regain business lost to private courier operators.
In a move that may hit private courier operators hard, the government on Thursday proposed to stop them from carrying letters weighing below 300 grams.
In a bold initiative, the Centre has allowed the department of posts to invest about Rs 10,000 crore (Rs 100 billion) from its life insurance schemes in the stock markets for better returns.
The department of posts on Friday said it was planning to have a wide area network through the central server technology, to be used by the banking segment of the post office.
The vertical will be based out of Bengaluru.
A postman is well-versed within the area he is allocated and is still a vital link in many rural parts.
Last August, RBI gave in-principle approval to 11 applicants.
The Committee, which has been set up in pursuance of the announcement made by the Minister in his Budget speech, will also suggest whether the unclaimed deposit should come to government or be kept in a separate account.
'A fresh look is being given to ways of processing, transmission, and delivery.'
After dematerialising crores of shares over the past seven years, the National Securities Depository Ltd is set to extend the service to other financial instruments.
GPS devices will enable real-time money transactions
The Ministry of Information and Broadcasting runs various awareness programmes for the citizens leveraging the Internet and the social media.
RBI had received 72 applications for small finance bank licences.
Infosys, country's second largest software services firm, has not made any profit on government projects because of red-tapism and other issues, its co-founder N R Narayana Murthy said.
Last year, the software giant launched a cloud adoption programme for SMBs.
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