India Post announces full-fledged entry into e-commerce; will leverage parcel business for end-to-end delivery of products
"We have simplified decision-making process at Department of Posts (DoP) by setting up a separate parcel directorate. It can make quick decision on parcel rates and related provisions. India Post will leverage its vast network for e-commerce services for doorstep delivery of products," Communications Minister Manoj Sinha said
India Post Payments Bank, Bajaj Allianz announce five-year partnership to sell insurance products on revenue share basis
Under the partnership, India Post Payments Bank (IPPB) will facilitate customers to pay for Bajaj Allianz life insurance products through their accounts.
India Post Payments Bank goes live with Aadhaar-based account facility, doorstep delivery of services; all you need to know
Narendra Modi launched India Post Payments Bank (IPPB), which is aimed at strengthening financial inclusion by taking banking services to the unbanked rural areas.
Payments bank are being promoted by the Reserve Bank to further financial inclusion by giving services such as small savings accounts.
"Passport is a right. It is not a gift. We are a democracy," MJ Akbar said while inaugurating the Post Office Passport Seva Kendra in Kolkata
Akbar said getting a passport was now a right and no longer a dream for every citizen, especially the poor.
The Ministry of Health wants the India Post to supply general medicines in remote and inaccessible areas of the country, the senior official said.
A software had been developed for the purpose by the AP Technology Services and successfully tested at the General Post Office in Hyderabad.
DoP said GPS is being fitted in the outsourced and departmental vehicles to enable real-time tracking of parcel consignments.
With 155,015 post offices across the country, of which 139,144 are in rural areas, India Post offers its partner a wider reach.
Payment banks allow mobile firms, supermarket chains, and others to cater to individuals and small businesses.
SBI, the country's largest lender, will take as much as 30 percent in RIL's proposed bank.
In 2011-12 and 2012-13, there was a 3.3 percent and 5.2 percent fall in traffic of inland letters, while the same grew 1.1 percent to Rs 87.45 crore in 2013-14.
The Department of Posts is among 41 entities and individuals who are in the race to enter the soon to be introduced payments banking domain.
The Department of Posts is working on a plan to provide electronic money order service at 70 percent of its about 1.55 lakh post offices by December.
The report said that e-commerce could be the second largest activity after banking that DoP can foray into for emerging as one of biggest players in the world.
Modi released the stamps just before the month-long FIFA World Cup in Brazil got off to a start.
The Department of Posts has been trying to get the clearance of the finance ministry for some time now.
The project aims at increasing efficiency, quickening transactions and enhancing transparency at all 1.55 lakh post offices in the country.