postal services in india1

8/3/2019 Postal Services in India1

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SUBMITTED TO :Rohit Dahia

SUBMITTED BY:Anjali Kulshrestha

POSTAL SERVICE

IN INDIA
http://en.wikipedia.org/wiki/File:India_Post_Logo.svg


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Contents :-

Indian Postal ServicesGovernance and organization

HistoryPostal serviceNon postal ServiceOther Finance Service


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Postal Services In India

Largest postal network

Provide banking facility in rural area.Provide financial Services


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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.


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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


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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


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Non-postal services1. Postal Life Insurance2. ePayment3. Instant Money Order Service (iMO)4. International Money Transfer

Different Non-Postal Services are :


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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


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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.


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Recurring Deposit Account

Systemic way of saving account.

Deposit a fix amount after a fix period.

Maturity period of the account is 5 years.


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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.


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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.


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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.


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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.


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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.


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THANK YOU

postal services in india1

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