DoP plans to recruit around 55,000 GDSs through online mode in November: B.V Sudhakar

HYDERABAD, SEPTEMBER 16:  

The Departments of Posts plans to recruit around 55,000 Grameen Dak Sevaks through online mode in November, B.V Sudhakar, Secretary, Department of Posts, said.

Addressing a Press Conference here on Friday, Sudhakar informed that the software required for online recruitment is at the testing stage and the online method will ensure transparency in this recruitment.

In order to address the grievances of the postal customers, the National Service Call Centre - 1924 - was launched on September 12, 2016. Customers can call from any network to this number and they will be given a unique 11-digit ticket ID to check the status of their complaint. Nearly 98 per cent grievances and complaints were resolved, he said in a statement.

Post Payment Bank

Explaining about the Post Payment Bank, he said the focus will be on Government to customer services by providing services like Direct Benefits Transfer, which could also be helpful in the financial inclusion. There will be no lending to the customers and deposits can be made up to Rs. 1 lakh.

Total 650 branches of post payment bank will be set up by May 2017 and nearly one lakh employees will work on this set up, he added.

Solar power

Sudhakar also informed to harness solar power, 4000 Postal buildings across country will utilize solar power in the coming days. To start with Postal Department headquarters at New Delhi will install Solar Power panels which can save up to Rs. 17 lakh of monthly power bill.

The business across Postal services registered growth with 3.8% growth in unregistered postal traffic, 6% in registered posts, 7.3% in Speed Post, 6.8% in savings banks mobilization and 25% growth in Philately, during 2015-16 as against 2014-15, he said.

Postal Department achieved business of Rs. 14, 900 crore as against planned target of Rs. 14, 600 crore, he added.

Source : http://www.thehindubusinessline.com/money-and-banking/dop-to-recruit-around-55000-gram-dak-sevaks/article9115590.ece

Uniform Business hours in all Post Offices

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PLI Child Policy-CP ( Bal Jiwan Bima)

  PLI Child Policy-CP ( Bal Jiwan Bima)

Main Futures-

• ·         To provide insurance cover to the two children of each existing PLI /RPLI policyholder provided that only one such policy will be allowed for an insured against one policy. 

Eligibility :

1.       This is an independent policy, however this policy can not be issued of its own to any child. If the father/mother (insured) of the child has already taken policy or is proposing to take policy on their life either as whole life or endowment Assurance for a sum assured not less than the sum assured of children policy then children policy shall be issued to such insured.

2.      Not more than one policy will be allowed for one child. The policy can be taken by insured for his/her own child only.

3.      Not more two children in a family shall be covered under this policy. The same child should not be covered under more than one policy.

4.      Any PLI or RPLI policy holder can apply for Child Policy for his two children's. Premium table is same for PLI or RPLI policy holder’s children policy.

Minimum & Maximum Age at Entry:-

• ·         Mini. age at entry of children is 5 years and the maxi. age at entry is 20 years on next birthday The Main insured shall not be aged 45 years and above at the time of taking/issue of children policy.
• ·         Sum Assured:-
• ·         The minimum Sum Assured is Rs 20,000 and the maximum Sum Assured is Rs 3 Lakh. Additional sum assured in multiple of Rs 10,000/-

Medical Examination : 

• ·         No needs of medical examination of children.

Loan : 

• ·         No loan is admissible to children policy. 

Surrender:-

• ·         Surrendered and made paid up on usual conditions as applicable to main policy provided at least 5 years premiums have been paid. The amount is admissible as per surrender Table/Factor which would be a fraction of premium paid.

Term : 

·         The outstanding term of the main policy shall not be less than the premium paying period of children policy.

·         Premium ceasing age at 18, 19, 20, 21, 22, 23,24 &25 yrs.

Claim : 

1.       Sum assured shall be payable on children policy on its Maturity or earlier on death of the child

2.      In the event of the death of the insured before the expiry of the children policy, no further premium shall be payable for the balance period of the child policy.

CHILDREN POLICY (Premium Table)

Children Add on with profit(Policy of Sum Assured of INR 1000/-)

•   For Sum Assured INR 20,000/- a rebate of INR 1/- Per month is admissible on premium.
•   For the purpose of ‘age at entry’ the age on next birth day will be taken for fixing premium.
•  For taking policy minimum age at entry will be 5 years & maximum 20 years
•  Rebate of 2% of the Premium is allowed on annual premium & 1% on half year premium

Source : www.postallifeinsurance.gov.in

India Post Payments Bank Incorporated

Press Information Bureau
Government of India
Ministry of Communications & Information Technology

18-August-2016 16:18 IST

India Post Payments Bank Incorporated

The India Post Payments Bank Limited has received the Certificate of Incorporation from the Registrar of Companies, Ministry of Corporate Affairs yesterday under the Companies Act 2013. This would be the first PSU under the Department of Posts. This has happened in the wake of Prime Minister Shri Narendra Modi’s Independence Day address, raising the expectations of the people from the soon to be set up India Post Payments Bank. With this move the Department of Posts has cleared an important milestone on this journey.

With the incorporation, the Board of the India Post Payments Bank Limited is likely to be constituted soon. The incorporation of the IPPB Ltd is a significant step forward as this also paves the way for the bank to begin hiring of banking professionals to set up the bank and begin its operations in 2017. The Department of Posts is expected to complete the roll out of its branches all over the country by September 2017. This could be the fastest roll out for a bank anywhere in the world.

The aspiration for the India Post Payments Bank is to become the most accessible bank in the world riding on state of the art banking and payments technology. Coupled with the physical presence across 1.55 lakh post offices and the reach of “The Dakiya”, the India Post Payments Bank aims to become a powerful and effective vehicle of real financial inclusion in the country. It is poised to create a national payments architecture riding on a modern payments platform and ubiquitous information and communication technologies that can be accessed by all users and service providers like never before. The stakeholders of the India Post Payments Bank within the Government and outside are looking at this new entity as a catalyst to social and financial inclusion.

Achievements and Success of Department of Posts

Average business provided by major players is as follows:

Amazon: ~3 Lakh articles per month (peak 6 Lakhs)

Snapdeal : 80000 articles per month

Myntra : 50000 articles per month

Flipkart : 30000 articles per month

Yepme : 60000 articles per month

Parcel Revenue : Rs. 92.35 Crores till Nov 2015

Speed Post revenue : Rs. 1023 Cr till Nov 2015 (~10% eCommerce business) 

COD remittances : Total >Rs. 1000 Cr till Dec 15 Profile of Revenue Stream (in Rs Crore)
Products	2013-14	2014-15	2015-16(Upto Nov)
Speed Post	1372.2	1495.2	1023.5
Business Post	1029.5	962.5	553.7
Bill Mail Post	103.0	103.6	62.4
Express Parcel Post	77.6	64.3	38.0
Retail Post	70.2	84.4	51.5
Sale of Stamps	670.7	576.2	345.7
Logistics Post	15.3	24.4	10.7
Money Orders	606.9	632.3	331.9
Others	869.8	1023.0	415.3
Revenue from P.O.	4815.2	4966.0	2832.6
SBCC	5915.3	6670.0	5092.5
Total Revenue	10730.4	11636.0	7925.1

 · Revenue Growth  

· Speed Post revenue growth in the current FY is more than 16%. CAG report laid in Parliament on 8th May 2015 highlights that Speed Post is far better than private couriers, in terms of reach, assured delivery and delivery time.  

– Department has tied-up with more than 400 e-commerce agencies including Flipkart, Snapdeal, Amazon, YepMe, Shopclues etc for delivering e-Commerce pre-paid as well as Cash on Delivery (CoD) orders. Amazon is the largest business partner in e-Commerce. Rs 1000 Crore COD collection by Department of Posts so far and this figure this likely to cross Rs 1500 Crores by the end of the current FY.  

– Parcel revenue which registered 2% decline in 2013-14, registered 37% growth in 2014-15. 117% growth in parcel revenue till 31st October 2015 in the current FY. 

· Digital India  

– Core Banking Solution (CBS) rolled out in 12441 Post Offices along with 300 ATMs. CBS shall be rolled-out in all 25,000 Departmental POs along with 1000 ATMs by 31st March 2016.  

– Core Insurance Solution (CIS) rolled out in 23,792 Post Offices and shall be rolled out in all 25,000 Departmental POs by 31st March 2016.  

– Supply of solar powered, biometric hand-held devices with connectivity to about 20,000 rural Branch Post Offices shall be completed by 31st March 2016. All 130,000 rural post offices would be provided with hand-held devices by March 2017.  

• Promoting Financial Inclusion 

– India Post Payments Bank (IPPB)- RBI has accorded in-principle approval for setting up of Department of Posts Payments Bank on 7th September 2015. IPPB shall be set up by March 2017 and shall leverage the physical and IT infrastructure of the Post office, using low-cost, low-risk, technology based solutions to extend access to formal banking especially in rural, un-banked and under-banked areas, including MSMEs, small entrepreneurs, Village Panchayats & SHGs 

– Number of Post Office Savings accounts increased from 30.86 Crore to 33.60 Crore and total deposits of POSB accounts and Cash Certificates to Rs 6.5 Lakh Crore.  

– More than 80 lakh Sukanya Samriddhi Yojana accounts opened with a cumulative investment of more than Rs 2900 Crore since launch on 22nd January 2015.  

– More than 1.84 Crore Kisan Vikas Patras sold, attracting an investment of more than Rs 16,429 Crore since launch on 18th November 2014.  

– Launch of PM Suraksha Bima Yojana and PM Jeewan Jyoti Yojana for Post Office Savings Bank account holders in CBS Post Offices. So far, more than 57,000 policies have been sold to POSB customers.  

– Increase in maximum sum assured in Postal Life Insurance from Rs 20 Lakh to Rs 50 lakh and for Rural PLI from Rs 5 lakh to Rs 10 lakh in order to provide more investment opportunities to customers and also increase claim amount to nominees in case of death. 

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