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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REVISION OF RATES TO SWEEPER/ WATER CARRIERS/GARDENERS ETC. FOR THE FINANCIAL YEAR 2015-16

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India Post to Issue Digital Life Certificate for Pensioners

India Post is getting ready to issue Digital Life Certificate to pensioners. This facility can be availed from selected Post Offices across the country. These Post Offices are already supplied with fingerprint scanner for Aadhaar authentication. 

Digital life Certificate for Pensioners, the scheme of the Government of India known as Jeevan Pramaan is a biometric enabled digital service for pensioners. Pensioners of Central Government, State Government or any other Government organization can take benefit of this facility.

Post Office Closed Holidays - 2016 For All Circle

India Post closed Holidays 2016 circle wise

View / Download Closed Holiday 2016 from India Post Site using below link

View Closed Holidays 2016

Committee set up to Review Wage Structure of Gramin Dak Sevaks

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

01-January-2016 15:16 IST

Committee set up to Review Wage Structure of Gramin Dak Sevaks 

A one man Committee to examine the wage structure, service conditions, etc. of the Gramin Dak Sevaks in the Department of Posts has been constituted by the Government of India.

Shri Kamlesh Chandra, Retired Member of Postal Services Board, will constitute the Committee. The Committee will be assisted by Shri T.Q. Mohammad, a Senior Administrative Grade Officer, who will act as Secretary to the GDS Committee. The Committee will go into the service conditions of Gramin Dak Sevaks and suggest changes as considered necessary. The terms of reference of the Committee will, inter-alia, include the following:-

    a)      To examine the system of Branch Post Offices, engagement conditions and the existing structure of wage and enrolments paid to the Gramin Dak Sevaks and recommend necessary changes;

    b)      To review the existing Services Discharge Benefits Scheme/other social security benefits for the Gramin Dak Sevaks and suggest necessary changes;

    c)      To review the existing facilities/welfare measures provided to the Gramin Dak Sevaks and suggest necessary changes;

    d)     To examine and suggest any changes in the method of engagement, minimum qualification for engagement as Gramin Dak Sevaks and their conduct and disciplinary rules, particularly keeping in view the proposed induction of technology in the Rural Post Offices.

The Department of Post has 2.6 lakh Gramin Dak Sevaks. All these GDSs will come under the purview of GDS Committee.

Amendment Of Rules Regarding Quoting Of PAN For Specified Transactions To Come Into Force From 01.01.16

Specified Transactions To Come Into Force From 01.01.16

Amendment of Rules regarding quoting of PAN for specified transactions to come into force from 1st January, 2016 

The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, it is mandatory under Rule 114B of the Income-tax Rules to quote PAN where the transactions exceed a specified limit. In case of transactions of sale or purchase of goods and services, PAN will be required to be quoted, irrespective of the mode of payment if the transaction exceeds Rs. two lakhs. 

To bring a balance between burden of compliance on legitimate transactions and the need to capture information relating to transactions of higher value, the Government has amended Rule 114B to enhance the monetary limits of certain transactions which require quoting of PAN. 

The changes made to the Rules have been notified through S.O. No. 3545(E) dated 30th December, 2015. These changes will take effect from 1st January, 2016. 

The Notification is available on the website of the Department www.incometaxindia.gov.in.

A chart highlighting the key changes to Rule 114B of the Income-tax Act is attached.

Sl.	NATURE OF TRANSACTION	MANDATORY QUOTING OF PAN (RULE 114B)
		Existing requirement	New requirement
1.	Immovable property	Sale/ purchase valued at Rs.5  lakh or more	i.       Sale/ purchase exceeding Rs.10 lakh; ii.     Properties valued by Stamp Valuation authority at amount exceeding Rs.10 lakh will also need PAN.
2	Motor vehicle (other than two wheeler)	All sales/purchases	No change
3.	Time deposit	Time deposit exceeding Rs.50,000/- with a banking company	i.      Deposits with Co-op banks, Post Office, Nidhi, NBFC companies will also need PAN; ii.    Deposits aggregating to more than   Rs.5 lakh   during the year will also need PAN
4.	Deposit with Post Office Savings Bank	Exceeding Rs.50,000/-	Discontinued
5.	Sale or purchase of securities	Contract for sale/purchase of a value exceeding Rs.1 lakh	No change
6.	Opening an account (other than time deposit) with a banking company.	All new accounts.	i. Basic Savings Bank Deposit Account excluded (no PAN requirement for opening these accounts); ii. Co-operative banks also to comply
7.	Installation of telephone/ cellphone connections	All instances	Discontinued
8.	Hotel/restaurant bill(s)	Exceeding Rs.25,000/- at any one time (by any mode of payment)	Cash payment exceeding Rs.50,000/-.
9.	Cash purchase of bank drafts/ pay orders/ banker's cheques	Amount aggregating to Rs.50,000/- or more during any one day	Exceeding Rs.50,000/- on any one day.
10.	Cash deposit with banking company	Cash aggregating to Rs.50,000/- or more during any one day	Cash deposit exceeding Rs.50,000/- in a day.
11.	Foreign travel	Cash payment in connection with foreign travel  of an amount exceeding Rs.25,000/- at any one time (including fare, payment to travel agent, purchase of forex)	Cash payment in connection with foreign travel or purchase of foreign currency of an amount exceeding Rs.50,000/- at any one time (including fare, payment to travel agent)
12.	Credit card	Application to banking company/ any other company/institution for credit card	No change. Co-operative banks also to comply.
13.	Mutual fund units	Payment of Rs.50,000/- or more for purchase	Payment exceeding Rs.50,000/- for purchase.
14.	Shares of company	Payment of Rs.50,000/-  or more to a company for acquiring its shares	i.      Opening a demat account; ii.    Purchase or sale of shares of an unlisted company for an amount exceeding Rs.1 lakh per transaction.
15.	Debentures/ bonds	Payment of Rs.50,000/- or more to a company/ institution for acquiring its debentures/ bonds	Payment exceeding Rs.50,000/-.
16.	RBI bonds	Payment of Rs.50,000/-or more to RBI for acquiring its bonds	Payment exceeding Rs.50,000/-.
17.	Life insurance premium	Payment of Rs.50,000/- or more in a year as premium  to an insurer	Payment exceeding Rs.50,000/- in a year.
18.	Purchase of jewellery/bullion	Payment of Rs.5 lakh or more at any one time or against a bill	Deleted and merged with next item in this table
19.	Purchases or sales of goods or services	No requirement	Purchase/ sale of any goods or services exceeding Rs.2 lakh per transaction.
20.	Cash cards/ prepaid instruments issued under Payment & Settlement Act	No requirement	Cash payment aggregating to more than Rs.50,000 in a year.

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