Postal Services in India1
-
Upload
anjali-kulshrestha -
Category
Documents
-
view
225 -
download
0
Transcript of Postal Services in India1
-
8/3/2019 Postal Services in India1
1/16
SUBMITTED TO :Rohit Dahia
SUBMITTED BY:Anjali Kulshrestha
POSTAL SERVICE
IN INDIA
http://en.wikipedia.org/wiki/File:India_Post_Logo.svg -
8/3/2019 Postal Services in India1
2/16
Contents :-
Indian Postal ServicesGovernance and organization
HistoryPostal serviceNon postal ServiceOther Finance Service
-
8/3/2019 Postal Services in India1
3/16
Postal Services In India
Largest postal network
Provide banking facility in rural area.Provide financial Services
-
8/3/2019 Postal Services in India1
4/16
Governance And organization
I. The postal service comes under the Department of Posts which is a part of theMinistry of Communications and Information Technology
II. India has been divided into 22 postal circles
III. There is a special Circle called the Base Circle to cater to thepostal services of the Armed Forces of India.
-
8/3/2019 Postal Services in India1
5/16
HISTORY
I. In 1688, the first post office of the Company Post was established atBombay/Madras.
II. The system was reorganized and the service opened to the general public
byWarren Hastings, the first governor general of Bengal
III. A Postmaster General was appointed and metal tickets or tokens wereissued to pay for the postal charges
IV. Adhesive stamps were introduced on 1 October 1854 on all India basis.
http://en.wikipedia.org/wiki/Warren_Hastingshttp://en.wikipedia.org/wiki/Warren_Hastings -
8/3/2019 Postal Services in India1
6/16
POSTAL SERVICESDifferent types of postal services are :
1. International Registered Post2. Speed Post3. Logistics Post
4. Parcels5. Business Post6. Media Post7. Direct Post
http://en.wikipedia.org/wiki/File:A_roadside_postbox_in_Chennai.jpg -
8/3/2019 Postal Services in India1
7/16
Non-postal services1. Postal Life Insurance2. ePayment3. Instant Money Order Service (iMO)4. International Money Transfer
Different Non-Postal Services are :
-
8/3/2019 Postal Services in India1
8/16
Financial ServicesThe post office has also traditionally served as a financial institution for millions ofpeople in rural India. Currently these are some of the activities being supported:
1. Saving Account
2. Recurring Account3. Monthly Income Deposit Account4. Time Fixed Deposit Account5. National Saving Certificate6. Public Provident Fund7. Kisan Vikas Patra
-
8/3/2019 Postal Services in India1
9/16
Savings Account
Similar to a saving account in a bank.
Save those fund you want to liquidate fully.
Suited for those areas where the reach of banks are verylimited.
-
8/3/2019 Postal Services in India1
10/16
Recurring Deposit Account
Systemic way of saving account.
Deposit a fix amount after a fix period.
Maturity period of the account is 5 years.
-
8/3/2019 Postal Services in India1
11/16
Monthly Income Account
Invest a lump sum and earn interest on monthly basis
Account can be opened by single person or by 2-3persons jointly.
Period of maturity is 6 years.
-
8/3/2019 Postal Services in India1
12/16
Time Deposit AccountJust like Bank fixed deposit account.
Deposit lump sum for a fix period.
Interest is calculated on Quarterly Compound basis and
payable Annually.
Rate of interest varies according to period of deposit.
Rate of interest is decided by the Central Government.
-
8/3/2019 Postal Services in India1
13/16
National Saving Certificate
It combines adequate return with high safety.
Maturity of a certificate is 6 years.
There is no maximum limit of purchase of the certificate.
-
8/3/2019 Postal Services in India1
14/16
PublicProvident Fund
It is saving cum Tax Saving instrument.
It serves as a retirement planning tool.
The account can be opened by a individual.
Rate of Interest is calculated by Central Government.
-
8/3/2019 Postal Services in India1
15/16
Kisan Vikas Patra
It is a saving instruments.
Provide interest income similar to bonds.
There is no limit of purchase.
No income tax benefit is available under the Kisan Vikas Patra.
-
8/3/2019 Postal Services in India1
16/16
THANK YOU